| Khal Baharulalam |
IN LINE with international standards for preventing money laundering and combating the financing of terrorism, the Financial Intelligence Unit of Autoriti Monetari Brunei Darussalam (AMBD) signed a Memorandum of Understanding (MoU) with the Bangladesh Financial Intelligence Unit of the Bangladesh Bank (BFIU) on the margins of the Egmont Working Group meetings that took place in Berlin, Germany, January 27.
Under the agreement, both agencies will cooperate in the exchange of financial intelligence that may assist in the investigation and prosecution of persons suspected of money laundering and financing acts of terrorism, a sign of the commitment both nations have towards the global fight against both issues.
The agreement is the fourth that the Financial Intelligence Unit has signed with the Bangladeshi agency. Other similar agreements include those signed with the AMBD’s counterparts in Malaysia, Indonesia and South Korea.
The signing is also in line with the Principles of Information Exchange practised by the Egmont Group, the global organisation of international Financial Intelligence Units, of which Brunei Darussalam has been a member since June 2014. The MoU is also in compliance with the Financial Action Task Force Recommendation 29.
These units are the central agencies in their respective nations for receiving, requesting, analysing and disseminating the disclosures of suspicious transaction reports linked dangerous activities.