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Memorandum of Understanding Between Financial Intelligence Unit, Autoriti Monetari Brunei Darussalam and Bangladesh Financial Intelligence Unit, Bangladesh Bank


PRESS RELEASE
MEMORANDUM OF UNDERSTANDING BETWEEN
FINANCIAL INTELLIGENCE UNIT, AUTORITI MONETARI BRUNEI DARUSSALAM
AND BANGLADESH FINANCIAL INTELLIGENCE UNIT, BANGLADESH BANK


The Financial Intelligence Unit, Autoriti Monetari Brunei Darussalam (FIU AMBD) signed a Memorandum of Understanding (MOU) with the Bangladesh Financial Intelligence Unit, Bangladesh Bank (BFIU) on the margins of the Egmont Working Group meetings in Berlin, Germany on 27 January 2015.

Under the MOU, both agencies agree to cooperate in the exchange of financial intelligence that may assist in the investigation and prosecution of persons suspected of money laundering and terrorism financing. This marks the strong commitment of both agencies in the global fight against money laundering and terrorism financing.

The MOU with BFIU is the fourth that FIU AMBD has signed. Current MOUs include those signed with the Financial Intelligence Units of Malaysia, Indonesia and South Korea.

The signing of MOU with other Financial Intelligence Units is in line with the Principles of Information Exchange of the Egmont Group, the global organisation of international Financial Intelligence Units. FIU AMBD became a member of the Egmont Group in June 2014 and BFIU became a member in July 2013.

In addition, the signing of MOU is an important step towards complying with international standards on anti-money laundering and combating the financing of terrorism, in particular the Financial Action Task Force (FATF) Recommendation 29.

FIU AMBD and BFIU are the central agencies in Brunei Darussalam and Bangladesh respectively for receiving, requesting, analysis and disseminating disclosures of suspicious transaction reports and other information related to money laundering and terrorism financing.


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