BFIU directs banks to disclose linked accounts after freeze

The Bangladesh Financial Intelligence Unit (BFIU) has directed all reporting organisations to immediately provide information on a frozen account and other accounts linked to it after receiving a freeze order.

The directive was issued in a circular dated today, signed by AKM Golam Mahmud, director of the BFIU.

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Under the Money Laundering Prevention Act, 2012, and the Money Laundering Prevention Rules, 2019, reporting organisations must inform the BFIU immediately after receiving an order to freeze an account.

They must provide the status of the frozen account along with information on other accounts linked to it.

The BFIU issued the directive under Section 23(1) (d) of the Money Laundering Prevention Act, 2012, and Section 10(1) (b) of the Anti-Terrorism Act, 2009.

The circular was addressed to the managing directors and chief executive officers of all reporting organisations.