The Bangladesh Financial Intelligence Unit (BFIU) has frozen assets worth nearly Tk 76,000 crore under court orders during the 2024-25 fiscal year, as authorities stepped up efforts to combat money laundering and recover suspected illicit wealth.
Speaking at a press briefing at Bangladesh Bank headquarters on Tuesday while unveiling the BFIU Annual Report 2024-25, BFIU Head Iqtiaruddin Md. Mamun said the frozen assets include around Tk 57,000 crore within Bangladesh and another Tk 19,000 crore located overseas.
He said the assets would remain under court-ordered seizure until the completion of legal proceedings.
Mamun said the financial intelligence agency is carrying out investigations into suspicious financial activities without political or personal bias and remains committed to protecting public assets.
He also said the BFIU has expanded the use of advanced technologies, including Artificial Intelligence (AI), to strengthen its ability to identify suspicious financial transactions and detect complex money laundering activities.
According to the annual report, the number of suspicious financial reports submitted to the BFIU increased by 74 percent in FY2024-25 compared with the previous fiscal year.
The agency received 30,199 reports during the year, comprising 20,524 Suspicious Transaction Reports (STRs) and 9,675 Suspicious Activity Reports (SARs). In comparison, it received 17,345 reports in FY2023-24 and 5,280 in FY2020-21.
The BFIU attributed the sharp increase to stricter regulatory enforcement, improved transaction-monitoring technology, stronger compliance by reporting institutions and growing risks linked to online gambling, digital hundi, foreign exchange and cryptocurrency trading.
Banks remained the primary source of financial intelligence, accounting for 95 percent of all reports submitted during the fiscal year. The banking sector alone filed 28,755 STRs and SARs, an increase of 80 percent from the previous year.
Financial institutions and money remitters also reported more suspicious activities, although together they accounted for only about five percent of the total submissions.
The report also highlighted closer cooperation between the BFIU and law enforcement agencies. Requests for financial intelligence rose to 1,329 in FY2024-25 from 1,157 a year earlier, with the Criminal Investigation Department (CID) and the Anti-Corruption Commission (ACC) making the highest number of requests.
Meanwhile, Cash Transaction Reports (CTRs) declined during the year. Banks and financial institutions reported 31.25 million cash transactions involving Tk 19,452 billion, while financial companies submitted 1,484 reports covering transactions worth Tk 2.17 billion.
The BFIU said the decline reflects Bangladesh Bank`s ongoing efforts to promote digital payments and reduce reliance on cash-based transactions.
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