The government is mulling to form a high-level task force to save people from illegal financial transactions and online fraudulence.
“A high-level task force is going to be formed immediately to save people from illegal financial transactions and online fraudulence,” an official of Ministry of Posts, Telecommunications and Information Technology said.
The task force will comprise Finance Division of Finance Ministry, Bangladesh Bank, Bangladesh Financial Intelligence Unit (BFIU), Criminal Investigation Department (CID) of Police and Bangladesh Telecommunication Regulatory Commission (BTRC).
The members of task force will hold meeting every month to discuss the issue relating to illegal financial transactions and online fraudulence.
They will later frame strategies that how they will prevent the illegal financial transition.
The concerned stakeholders will identify the problems and solutions to address the digital security challenges.
They will also build a safe online is possible with the joint efforts of all concerned as they believe it is also possible to ensure an effective and secure internet following the suggestions of the stakeholders.
This meeting will contribute fruitfully to ensuring digital security, as they will be able to identify problems from everyone’s discussion, the official added.
The Bangladesh Bank issued licences for mobile financial service (MFS).
It aimed to bring the unbanked people into the formal financial sector and lead to greater financial intermediation and contribute to growth.
So, the usage of digital payments system has become popular in the country.
Taking the advantage of modern technology, an organised gang is still using illegal channel like hundi to send money abroad.
Money laundering is a big challenge for forex reserves.
These people make payments in local currency here without bringing the hard-earned currencies from abroad to the country, according to CID police.
The CID police cyber intelligence unit claimed to have found more than 5,000 agent accounts of MFS organisation involved in illegal transactions of money.
Some gangs are illegally using mobile banking services to launder crores of taka.
The hundi traders have smuggled thousands crore of taka out of the country in the last one year.
“With the help of agents, money launderers are carrying out various illegal businesses including online gambling, drug trading, gold smuggling, Yaba peddling and amassing huge property abroad” an official of CID police told journalists.
Such stark mismatch in the earning of foreign currencies through remittance gave rise to question about rigorous monitoring among sector-insiders and experts who fear active presence of illegal hundi operators in the supply chain.
According to the CID police, hundi traders have smuggled $7.8 billion equivalent to Taka 75,000 crore out of the country in the last one year.
Officials of Information and Communication Technology (ICT) Division said Bangladesh Bank is responsible to look after the issue.
But the Bangladesh Bank said it is the responsibility of ICT department.
Earlier, the CID of police launched massive drives against money laundering through ‘hundi’ after arresting a number people who reportedly laundered a huge amount of money out of the country using mobile financial service (MFS).