Eastern Bank hosts conference to boost AML, CFT compliance

Eastern Bank PLC (EBL) has organised a day-long "BAMLCO Conference" aimed at enhancing knowledge, awareness, and capabilities in anti-money laundering (AML) and combating the financing of terrorism (CFT) among its officials.

The conference featured in-depth discussions on key issues, including trade-based and credit-backed money laundering, risks associated with hundi operations, online gaming and betting, cryptocurrency, and digital fraud, along with strategies for effective risk mitigation and monitoring.

Md Mofizur Rahman Khan Chowdhury, executive director and acting head of the Bangladesh Financial Intelligence Unit (BFIU), attended the event as chief guest at the bank's head office in Dhaka today, according to a press release.

In his remarks, Chowdhury stressed the importance of continuous learning and collaboration to foster a strong compliance culture across the financial sector.

He commended EBL for taking the initiative to create a dynamic platform for sharing knowledge and best practices in AML and CFT compliance.

Ali Reza Iftekhar, managing director of EBL, and Ahmed Shaheen, additional managing director, were present as special guests.

AKM Nurunnabi, additional director of the BFIU; Sajjad Hossain, additional director; and Md Mahbubur Rahman, joint director, attended the event as resource persons and delivered presentations on emerging money laundering risks and regulatory challenges facing the banking industry.

Mahmoodun Nabi Chowdhury, deputy managing director and chief anti-money laundering compliance officer (CAMLCO) at EBL; Riad Mahmud Chowdhury, deputy managing director and head of corporate banking; M Khorshed Anowar, deputy managing director and head of retail and SME banking; and Mahiuddin Ahmed, deputy managing director and head of operations, along with other senior officials, were also present.