Bangladesh, July 22 -- BIMSTEC member states have finalised an Action Plan to Prevent Illicit Financial Flows across the Bay of Bengal region and agreed on a Memorandum of Understanding (MoU) to strengthen capacity building in combating money laundering and terrorist financing.
The decisions were taken at the 14th Meeting of the BIMSTEC Sub-Group on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT), hosted by India's Department of Revenue under the Ministry of Finance in Shillong on 20 July, the BIMSTEC Secretariat said on Monday.
The seven member states also agreed to develop a BIMSTEC AML/CFT Work Plan (2026-2028) and stressed the need to operationalise the BIMSTEC AML/CFT Contact Point Network to enhance cooperat...