The government has issued the Money Laundering Prevention Rules-2019, defining the working areas of six government agencies in investigating 27 types of offences related to money laundering and removing the complexities faced by the agencies in submitting charge sheets.
Financial Institutions Division of the finance ministry framed the rules, scrapping the Money Laundering Prevention Rules-2013 and published the new rules in a gazette notification on Wednesday.
FID secretary Md Ashadul Islam on Sunday told New Age that the government issued the new rules to make enforcement of the Money Laundering Prevention (Amendment) Act-2015 easier and smooth and to expedite the trial process of money laundering cases.
He said that the rules had detailed and specified the roles of the investigation agencies, which would bring pace in investigation activities.
The government in 2015 empowered National Board of Revenue, Bangladesh Police, Department of Environment, Department of Narcotics Control and Bangladesh Securities and Exchange Commission to conduct investigation into the offences related to money laundering.
Previously, Anti-Corruption Commission was the sole agency to carry out the probe.
But the newly included agencies have been facing problems in filing charge sheets after investigation due to absence of an appropriate agency for giving permission to submit charge sheets.
Customs Intelligence and Investigation Directorate of NBR has also been facing problems in this connection and could not submit charge sheets in some cases.
There was also confusion over which agency would carry out investigation for what types of offences related to money laundering.
Now, Bangladesh Financial Intelligence Unit and other related agencies will give permission to submit charge sheets to court.
According to the new rules, ACC will conduct investigation into only corruption and bribery-related offences.
Criminal Investigation Department of Bangladesh Police will probe 19 types of offences including currency and document forgery, ransom, cheat, illegal arms business, hijacking, human trafficking and terror financing.
CID will also jointly carry out investigation activities with some other agencies including NBR, Department of Narcotics Control and Department of Environment for six other offences.
NBR has been empowered to investigate smuggling and business of smuggled goods, smuggling of foreign currency, customs duty and other tax-related offences.
NBR officials said that the new rules would resolve the problems faced by customs intelligence and other tax offices in filing charge sheets.
The rules will also expedite the trial process of money laundering cases filed by the agencies including customs intelligence, they said.
They said that CIID could not file charge sheets in any of the 17 money laundering cases it filed.
The rules have also defined the role of national coordination committee led by finance minister, working committee led by FID secretary, and role and responsibilities of reporting agencies including banks and financial institutions.
According to the rules, all reporting agency must have their own policy on prevention of money laundering and terror financing.
The rules have also specified the role and responsibilities of BFIU.
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