June 18, 2017
Every year a huge amount of money is siphoned out of the country primarily in four forms – over and under invoicing, over and under shipment, multiple invoices, and falsely declared goods and services, according to a study report of Bangladesh Institution of Bank Management (BIBM). Among various forms of trade related frauds, trade-based money laundering is perhaps the most concerning issue to policy makers all over the world, and four basic techniques are followed by fraudsters in Bangladesh for money laundering.