THE EFFICIENCY INFLUENCE OF AGENCIES ON CONTROLLING MONEY LAUNDERING IN BANGLADESH
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Abstract
Money laundering has emerged as a global concern in recent times, impacting both affluent and developing nations. Among emerging economies, Bangladesh faces pronounced challenges in addressing financial illicit activities due to its lenient regulatory framework and unstable financial sector. The Bangladesh Central Bank issues guidelines to streamline the implementation of the Prevention of Money Laundering Act. To ensure the stability and security of their institutions, financial entities are required to devise anti-money laundering policies in accordance with the stipulations of the Bangladesh Bank. This study centres on assessing the effectiveness of sanctioned organizations in countering money laundering. The research delves into the latest transformations in financial wrongdoing from the Bangladeshi context. It thoroughly explores strategies to prevent money laundering and other financial offences through enhanced efficiency. Presently, money laundering constitutes a complex and evolving criminal activity, with perpetrators constantly devising novel tactics to undermine the financial system. The study will advance the discussion of the influence of combatting the efficiency of authorized agencies to fight against money laundering in Bangladesh.
JEL Classification Codes: K42.
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