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Now jail term for trade-based money launderers

The government amended the Act in 2015, keeping a provision to punish money launderers. According to the Act, the government would have to issue a notification to implement the measure. As part of the move, the ministry has now issued the circular. The provision against the money launderers will be in place until December 2026. The government is now drawing up a new law titled Foreign Exchange Management Act. The latest provision will be included in the new act. We have been requested the government for long to implement the provision of the law to refrain borrowers from trade-based money-laundering, said Mustafizur Rahman, a distinguished fellow of the Centre for Policy Dialogue.

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