THE BANGLADESH MONEY LAUNDERING PREVENTION ACT

Bangladesh enacted legislation aimed at controlling and preventing money laundering. Money laundering is a criminal offense in Bangladesh and can result in imprisonment for up to seven years, in addition to financial penalties. The Bank of Bangladesh is responsible for investigating suspected cases and presenting them to the courts, as well as applying for orders freezing or seizing assets of accused money launderers. This article offers an overview of Bangladesh Money Laundering law.

The following questions have been addressed in this article:

How does Bangladesh law define the crime of money laundering?
What are some of the criticisms of the definition of money laundering set forth in the MLPA?
What are some of the inconsistencies in the application of the MLPA?
What recommendations has the World Bank made for improvements?

Continue...

Facebook Twitter RSS