BSEC opens anti-money laundering wing

The securities regulator has opened an anti-money laundering wing to prevent capital flight and financing of terrorism through the capital market, official sources said.

Mohammad Saifur Rahman, an executive director of Bangladesh Securities and Exchange Commission (BSEC), said a decision of forming an anti-money laundering wing was taken recently.

According to Rahman, the regulatory decision was taken as per the Money Laundering Prevention Act (MLPA), 2012.

"In accordance with the Act, every reporting agency will have to form a wing to prevent money launder and combat the financing of terrorism. The job of BSEC wing is to cooperate with the authorities concerned for preventing capital flight and financing of terrorism through the capital market," said Rahman.

The BSEC sources said the securities regulator took the decision of forming the anti-money wing at a meeting held on September 23 last.