Muhammad Tareq — A high-level delegation from the Asia/Pacific Group on Money Laundering (APG) is scheduled to arrive in Dhaka on August 11 for a crucial three-day visit aimed at evaluating Bangladesh’s legal, institutional, and operational frameworks against financial crimes.
The delegation, which will remain in the capital until August 13, will review the country’s risk assessments, investigation and judicial mechanisms, asset recovery protocols, international cooperation, and agency-specific performance.
This visit marks the official commencement of preparations for the upcoming 4th Mutual Evaluation scheduled for 2027–2028.
In preparation for the high-profile visit, a preliminary meeting was convened at the Secretariat on Thursday, jointly led by Finance Minister Amir Khasru Mahmud Chowdhury and Home Minister Salahuddin Ahmed.
Sources confirmed that the meeting reviewed the status of APG recommendations, ongoing government initiatives, and cross-agency progress. Directives were also issued to reactivate the national anti-money laundering task force to ensure seamless coordination.
Officials emphasized that the APG evaluation will look beyond existing statutory provisions, focusing heavily on practical enforcement.
Key areas under scrutiny include the effectiveness of investigations, judicial prosecution, asset freezing, cross-border cooperation, and the repatriation of laundered funds.
According to the Financial Institutions Division under the Ministry of Finance, several critical risk assessments remain pending.
These include the Third National Risk Assessment, specific risk evaluations for terrorist financing, assessments regarding non-governmental organizations (NGOs) and non-profit organizations (NPOs), and risk profiling of virtual assets and Virtual Asset Service Providers (VASPs).
Treating the APG evaluation as a top national priority, the government has designated the Bangladesh Financial Intelligence Unit (BFIU) as the lead agency, with the Head of BFIU appointed as the chief coordinator.
All relevant ministries, divisions, and agencies have been instructed to appoint dedicated focal persons to compile and present necessary documentation within strict deadlines.
Highlighting the gravity of the evaluation, Dr. Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB), stressed the imperative for tangible results.
“A weak evaluation score could lead to heightened international scrutiny over the country’s financial sector, creating complexities in international transactions and negatively impacting national credit ratings,” Dr. Iftekharuzzaman cautioned. “Before the APG visit in August, the government’s primary challenge is to demonstrate to the international community that Bangladesh has achieved real progress not just in enacting laws, but in enforcing them effectively.”
As per working papers, the joint evaluation by the APG and the Financial Action Task Force (FATF) will occur in two distinct phases:
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Technical Compliance: Assessing legislative frameworks, regulations, and institutional structures.
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Effectiveness Assessment: Evaluating real-world enforcement across 11 key outcome indicators, including prosecution rates, asset confiscations, international cooperation, and counter-terrorist financing actions.
Addressing operational bottlenecks, the Criminal Investigation Department (CID) noted that the lack of an independent prosecution service currently delays the judicial resolution of complex financial crime cases.
To mitigate this, CID has initiated steps to establish a dedicated, permanent prosecution cell within the department.