Prevent money laundering

Published : 10 Jan 2017, 14:45

Sahos Desk

Senior bankers have urged their fellows to put in their best efforts to prevent money laundering and other malpractices in banks for the sake of uprooting various social crimes including terrorism and militancy.

Terming the border-belt districts like Rajshahi and Chapainawabganj as a crime-prone zone, they said bankers must remain sincere and alert so that money laundering and financing to terrorism could be eradicated.

They were addressing the inaugural session of a four-day training course titled "Prevention of money laundering and malpractices in banks" for some field-level bankers of Rajshahi Krishi Unnayan Bank (RAKUB) at its training institute in Rajshahi on Monday.

The main focus of the course was to disseminate updated knowledge and strategies to prevent malpractices associated with money laundering. Thirty bankers from senior officers to assistant general managers joined the course.

RAKUB managing director Sanaul Haque addressed the session as chief guest with principal of the training institute Ataur Rahman in the chair. Faculty members Md Arifuzzaman and SM Ahsanullah also spoke.

Sanaul Haque said money laundering prevention is the part and parcel of risk management in the banking sector. He urges all concerned to remain alert so that not a single money laundering incident is occurred in any branch.

The RAKUB chief said: "Banks are liable for keeping accurate and full affidavits of their clients. Updating client information is a regulatory requirement and it's for all branches. It is a central bank order to do so".

He emphasised the importance of due diligence and proper 'know your customer' (KYC) guidelines and their business and advised everyone to remain fully compliant with money laundering prevention (MLP) and CFT rules and regulations.

Sanaul also advised the officials to be more cautious and proactive in preventing money laundering and terrorist financing, as well as complying with all other applicable regulations regarding the issue and thus protect and enhance the image of RAKUB as a compliant bank.

Source: BSS

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