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Business Insider Bangladesh

Nagad holds workshop on prevention of money laundering, terror financing

BI Report || BusinessInsider

Published: 16:05, 4 December 2022  
Nagad holds workshop on prevention of money laundering, terror financing

Photo: Courtesy

Nagad, a mobile financial service of the Bangladesh Postal Department, has organised two workshops to raise awareness among its “Uddoktas” in Chattogram and Cumilla on how to check money laundering and combat terrorist financing while conducting MFS transactions.

The workshop titled “Let’s prevent financial transactions through ‘hundi’, let’s all build a beautiful Bangladesh”, was held recently in Chattogram with Md Shahid Ullah, market director (East Operation) of Nagad, in the chair.

M Nurul Alam, FCS, chief anti-money laundering compliance officer of Nagad, graced the occasion as the chief guest. Regional and head office officials were also present at the event. Ahammad Ali, assistant general manager of Nagad’s Compliance Department, presented a keynote.

Regional sales managers of Cumilla and Chattogram Mehedi Ahmed Siddique and Md Shamimul Hasan Chowdhury respectively moderated the two discussions.

Speakers at the event apprised Nagad Uddoktas of the necessity of reining in money laundering and terrorist financing while running their operations. They also made them aware of potential risk factors, illegal hundi, online betting, and other digital crimes.

They also shed light on reporting suspicious transactions and case studies related to fraud.

The programme mainly focused on checking remittance inflows through illegal channels and illegal transactions of cryptocurrencies.

The officials discussed how remittance inflows through legal channels have a positive impact on the economy.

M Nurul Alam, FCS, chief anti-money laundering compliance officer of Nagad, thanked channel partners for participating in the workshop.

Mentioning that Uddoktas can play a crucial role in preventing money laundering and terrorist financing, he urged everyone to work together to prevent all kinds of misuse of Nagad platform by any wrongdoers.

He also expressed hope that such awareness activities will be held frequently in all parts of the country as part of Nagad’s compliance activities.

Stating that the main driving force of Nagad’s management is its Uddoktas and strong channel partners, Md Shahid Ullah, market director (East Operation) of Nagad, urged all to be aware of money laundering and terrorist financing.

Nagad