Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR) in the financial sector increased 62 per cent in the last financial year compared to the year before that, Bangladesh Financial Intelligence Unit (BFIU) data revealed on Monday.
The total number of SRT and SAR was 8,571 in FY2021-22, which was 5,280 in FY2020-21, according to a BFIU report unveiled at an event at Bangladesh Bank in Dhaka.
ALSO READ — BFIU gets 3 months to sign legal pacts to bring back black money
“There is no accurate information on laundered money,” BFIU head Masud Biswas said while speaking at the event. He also said that smuggling under the guise of export has reduced. Initiatives are being taken to reduce smuggling under the guise of import as well.
The BFIU is responsible for analysing STR, SAR, cash transaction reports, and information related to money laundering and terrorist financing received from reporting agencies and other sources.
