Nagad has conducted an Anti-Money Laundering (AML) workshop for its distributors across Dhaka North and South to identify, control and prevent financial crimes in mobile financial services.
The workshop was held on Tuesday at the Sheraton Hotel in Dhaka, focusing on preventing money laundering, key risk areas, ways to increase distributor awareness, suspicious transaction reporting (STR) and actionable steps to prevent fraud, reads a press release.
Speakers at the event said Nagad’s Uddoktas (agents) and robust distribution network are a primary driving force behind its business operations. They stressed that raising awareness among agents, ensuring a secure business environment and taking proper measures to combat money laundering are critical.
As part of its routine operations, Nagad will continue nationwide initiatives to enhance distributor awareness, they said.
The session also covered stakeholders’ responsibilities in preventing fraud and other offences, mechanisms for identifying and reporting suspicious transactions, and the importance of cooperation with law enforcement agencies.
Participants also exchanged views on operational challenges faced by agents, necessary AML measures and essential steps to ensure secure financial services.
At the workshop, Bangladesh Bank-appointed Administrator to Nagad Md Motasem Billah said, “We are making every possible effort to prevent financial crimes, and we have achieved success in almost every area.”
Kamrul Hasan Azad, additional director of the Bangladesh Financial Intelligence Unit (BFIU), said the government is working with utmost sincerity to prevent all forms of gambling. He said a law to prevent gambling was passed in July, describing it as highly effective and timely.
Nagad’s Chief Compliance Officer and Chief Anti-Money Laundering Compliance Officer (CAMLCO) Muhammad Anisur Rahman Bhuiyan, Chief Commercial Officer Mohammad Shahin Sarwar Bhuiyan, and Chief Strategic Relations and LEA Operations Officer M Mahbub Alam also spoke at the workshop.
Senior officials of the company were also present.
The workshop also featured discussions between participants and entrepreneurs on various challenges in business operations, measures to prevent money laundering and steps necessary to ensure safe financial services.
Distributors raised questions about different aspects of the law and related responsibilities, which the speakers answered.
