Staff Reporter :
In a recent statement, Additional IGP Mohammad Ali Mia, the head of the Criminal Investigation Department (CID) of the Bangladesh Police, emphasized the urgent need for a central data center to effectively combat financial crimes, including money laundering and trafficking.
The official pointed out that while there is a wealth of data on financial crimes from various countries, Bangladesh currently lacks a centralized system to manage and analyze this data for domestic use.
The CID chief made these remarks during a function at the CID headquarters on Sunday afternoon, where he was addressing a research report titled ‘Challenge of Controlling Illegal Money Transfer through Mobile Apps: A Study on Online Gambling.” According to IGP Mohammad Ali Mia, the CID requires direct access to financial sites and mobile banking systems such as Bikash, Nagod, and Rocket to monitor and investigate suspicious transactions. He stressed that it is crucial to bring these mobile banking operators under legal regulations in Bangladesh to ensure proper oversight and control.
He elaborated on the current gaps in the financial system, noting that distribution companies involved in e-money transactions do not scrutinize the sources of the money being transferred. Similarly, when agents withdraw money from the field, there is no verification of the purpose behind the transactions or the legitimacy of the funds. This lack of oversight creates opportunities for illegal activities, including money laundering.
The CID has recently intensified efforts to investigate the sources of income for agents and to determine whether their financial activities are legal or illegal.
They are also scrutinizing how foreign remittances are being handled, as there are troubling reports that expatriates’ earnings in currencies like Dollars, Ringgits, and Reals are not being transferred to Bangladesh but instead are remaining in other countries, such as Dubai.
IGP Mohammad Ali Mia highlighted that, under current regulations, agents are sourcing money from various channels and channeling it through mobile banking institutions like Nagod, Bikash, and Rocket.
Historically, these institutions have been difficult for authorities to scrutinize, but recent CID initiatives have begun to uncover criminal activities and reduce the incidence of such crimes.