BB fines 8 banks for money laundering

The Bangladesh Bank (BB) has fined 7 banks and a financial institute for violating money laundering law. They have been slapped with fines from Tk 0.2 million (200,000) to Tk 2m for not keeping client affidavits and also for not informing authorities of suspicious transactions in time. Bangladesh Investment Finance Corporation, a financial institute, and the state-owned Uttara Bank, are among the banks punished under the law, according to a news agency.