The Bangladesh Bank today asked banks to track shipments of exported goods to stop trade-based money laundering.
Banks have to hire third-party experienced operatir for tracking export items-laden vessels, according to a Bangladesh Bank notice.
The central bank will allow lenders to remit foreign currency for hiring the fleet trackers headquartered in foreign nations.
The tracking system would help banks to conduct real-time monitoring of the shipping supplies between the country’s ports and the destined nations of the items, said an official of the central bank.
This will subsequently contain the trade-based money laundering and stop unscrupulous persons during money flights in the name of exports, he said.
Economists and different foreign organisations related to preventing money laundering have been expressing concern about the rising trend of money laundering in Bangladesh.
