Over 18,000 suspicious transactions detected in 10 months: BFIU

In the first ten months of the 2024–25 fiscal year, a total of 18,025 suspicious transactions have been identified in Bangladesh. This number has already surpassed the total recorded in the previous full fiscal year. In 2023–24, the number of such transactions stood at 17,345—meaning there has been a 22.96% increase in suspicious transactions within a year.

According to the annual report of the Bangladesh Financial Intelligence Unit (BFIU), a total of 17,345 reports on loan-related suspicious transactions were submitted in the 2023–24 fiscal year, compared to 14,106 in 2022–23. That’s an increase of 3,239 reports in one year. Prior to this, the numbers were, 8,571 in 2021–22, 5,280 in 2020–21 and 3,675 in 2019–20.

The annual report was published on Tuesday (May 27) at the headquarters of Bangladesh Bank.

The event was attended by Dr Ahsan H. Mansur, Governor of Bangladesh Bank, as the chief guest. Also present were BFIU Chief A. F. M. Shahinul Islam, Executive Director and Deputy Chief Md. Kawsar Matin, Bangladesh Bank Spokesperson Arif Hossain Khan, Director Mahua Mohsin, and others.

The report also stated that during the reporting period, there were a total of 39.35 million cash transactions in the country, with a total monetary value of approximately BDT 23,900 crore.

During a press briefing at the report’s release, Governor Dr. Ahsan H. Mansur emphasized the need for improving the efficiency and coordination among investigative agencies to better identify and recover laundered funds. He noted, however, that since this is a relatively new area, it will take time to strengthen capacity.

The Governor also mentioned that discussions are ongoing to merge some financially weaker Islamic banks into two larger banks. He said the government plans to take over one of the weakest banks to make it stronger and ensure greater protection for depositors. He assured that the acquisition will follow all proper regulations and procedures.

The BFIU report further noted that a total of 114 Financial Intelligence Reports (FIRs) were sent to various investigative agencies during the 2023–24 fiscal year.