Transaction monitoring in bKash Limited in global perspectives

Abstract

Bangladesh has an exemplary track record for growth and development, with more and more technologically advanced companies setting up every day. To tackle this dynamic market, one of the champions known as bKash Limited moves forward to dominate the world of Fintech with its mobile financial services. While the company is a top performer, it is still subject to obstacles such as Money Laundering and Terrorist Financing (ML/TF), which is also, faced my mobile financial service providers globally. A major step towards fighting this obstacle is the operation of the Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) department of bKash Limited in order to monitor transactions as an approach to reduce the amount of unlawful activities. In this paper I have highlighted the measures taken my bKash and companies worldwide in order to combat the threats of ML/TF, and the Financial Action Task Force on Money Laundering (FATF) guidelines adopted in bKash is analyzed as well. The idea of this paper is to show the impact of transaction monitoring done by bKash on the economy of Bangladesh.