Dollar crisis and money laundering

Banks must take concerted action to prevent the persistent issue of money laundering. Good governance within banks is essential, and central bank supervision must be increased to ensure compliance with the Prevention of Money Laundering Act, especially in the field of foreign trade.

Money laundering occurs in various ways, and it is crucial to implement effective measures to accurately identify and prevent these illicit channels. Despite numerous initiatives, money laundering has not been fully stopped, highlighting gaps in current efforts that must be addressed.

If the vast amounts of money being smuggled abroad each year were instead invested domestically, it could create numerous jobs and significantly impact the country's overall development. Money laundering has become a poison for our economy, and it is imperative to find a solution to this crisis and recover the substantial funds that have been smuggled abroad.

Ashikujaman Syed

Marketing Research Associate

Hebei Huanji Metal Wire Mesh Co. Ltd

Shijiazhuang, China.

[email protected]