Analyzing the future security of bkash money transaction occurring due to money laundering and financing terrorism

Abstract

Anti-Money Laundering and Combating Financing Terrorism comes in hand in hand when ever we talk about any MFS or Banking Sector. Financial activities are a serious offence the law and enforcement authority have a scheme to prosecute and compensate those who engage in them. bKash platform is used for performing various types of illegal activities like drug dealings, smuggling and various other un ethical activities etc. One of the most popular types of criminal crime is fraud both AML&CFT activities are taken very seriously by bKash and successful steps are taken to combat this form of illegal activity. The Bangladesh Financial Intelligence Unit (BFIU) provides amendments, related to risk mitigation for bKash.bKash is working 24/7 in order to prevent these types of illegal and unethical activities through External Corporate Affairs Division; AML&CFT department of bKash is working in order to safe guard the peoples hard earned money and to save the country and its economics from the hands of unethical activities and peoples. Several levels of checkup are done 3/4 layering checkup is done before onboarding any customer to see how much risky they are, background checkup of customers is done so that necessary precautionary steps can be taken and necessary strategies can be made in order to overcome those risks.