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The main objective of the Money Laundering Prevention Act, 2012 Act is to tackle the illegal money transfer to different countries. In order to exercise the powers, and perform the duties, vested in Bangladesh Bank, a separate unit named Bangladesh Financial Intelligence Unit (BFIU) has been established within Bangladesh Bank.

·         Money laundering is considered an offence, because it has potentially devastating economic, security, and social consequences. It is an avenue for drug dealers, smugglers, terrorists, illegal arms dealers, corrupt public officials, and others to operate and expand their criminal enterprises. It can also adversely affect collection of government revenue and deprives the government of due revenues Section 2(v).

·         Sections 4-8 deal with the penalties relating to the offence of Money Laundering.

•Section-4: If a person commits an offence of money laundering, he will be punished with not less than 4 years and not more than 12 years and penalty for twice the amount which relate with the offence or up to 10 lac, which is higher.