The Bangladesh Financial Intelligence Unit (BFIU) has decided to form an inter-agency steering committee under a public-private partnership model to combat trade-based money laundering (TBML).

The decision was taken at a stakeholder meeting organised by the BFIU on August 30. The committee will include representatives from government agencies, regulators, law enforcement agencies, customs authorities, scheduled banks and the private sector.

The initiative aims to improve the detection of money laundering through trade, strengthen risk assessment and information sharing, enhance inter-agency coordination and support investigations.

Representatives from the BFIU, Bangladesh Bank, the National Board of Revenue, Customs Intelligence and Investigation Directorate, Dhaka and Benapole customs houses, ICD Kamalapur and Mongla Customs House attended the meeting. Representatives from the Criminal Investigation Department (CID), Anti-Corruption Commission (ACC) and 15 scheduled banks also participated.

Participants said TBML methods are becoming increasingly complex, making coordinated efforts and stronger information-sharing and risk-analysis mechanisms essential. They also stressed that no single agency can effectively address the problem alone.

The proposed steering committee will review existing risks and challenges, monitor progress, strengthen information exchange and recommend future measures. It will also hold regular meetings to assess the activities of relevant agencies.

The BFIU expects the committee to help identify potential TBML activities, monitor suspicious transactions, analyse relevant information and improve cooperation in investigations.