Freeze the IPs Bank Account

 

Bangladesh Financial Intelligence Unit, or BFIU, was formed under the Anti-Money Laundering Prevention Act 2012. The BFIU's main objectives are to establish an effective system for preventing money laundering, combating financing terrorism, and preventing the proliferation of weapons of mass destruction. BFIU works under the Money Laundering Prevention Act of 2012 and the Anti-Terrorism Act of 2009 (including amendments in 2013).

To prevent money laundering, BFIU periodically formulates policies and guidelines for all commercial banks. They have provided a guideline in BFIU Master Circular 26.  

BFIU gives freezing instructions to prevent money laundering and anti-terrorism activities. We have seen that BFIU has given freezing instructions to several influential persons or IPs.

According to the BFIU circulars, freezing instructions can last from 30 days to 180 days. Preliminary freezing is imposed for 30 days and will be continued if anything is found suspicious.