The Bangladesh Financial Intelligence Unit (BFIU) has taken action against gambling and hundi operations, resulting in the suspension of a staggering number of 21,725 mobile financial service (MFS) accounts.
These accounts are mainly associated with MFS providers like bKash, Nagad, and Rocket. Over the past nine months, the BFIU has been diligently collecting data on illegal financial activities.
Their extensive database includes 371 transactions related to online gaming / online sports betting 91 transactions linked to forex trading and 413 transactions involving cryptocurrency
Law enforcement agencies are currently analyzing this data to determine the next steps.Apart from suspending accounts, the BFIU has provided law enforcement authorities with a list of 814 websites, 159 apps, 442 social media pages, and links associated with gambling, betting, and cryptocurrency activities.
Additionally, they have shared information about 21 money changers along with their corresponding bank accounts (39 in total) with the Criminal Investigation Department of the Police. This strong crackdown is a response to the increase in illegal online gambling activities that have impacted numerous college and university students.
These activities disregard Bangladesh’s regulations against gambling.These unlawful activities have also had an impact on the amount of money being sent home through remittances, with a significant decrease of 21.5% compared to the previous year.
Migrant workers have sent around $1.59 billion to their home countries. With these efforts, the fight against financial transactions continues.
Law enforcement agencies are working tirelessly to prevent the misuse of MFS accounts for illegal purposes.
The Bangladesh Financial Intelligence Unit remains committed to fighting crimes.
Emphasizes the importance for stakeholders to ensure that MFS accounts are not used for unlawful activities.The government and law enforcement agencies are determined to eliminate gambling and hundi operations as they have harmful effects on society and the economy.
Through measures, Bangladesh aims to protect its citizens from the dangers of gambling addiction, maintain the integrity of its system, and create an environment conducive to legitimate economic growth.
