Dhaka, Bangladesh, Aug. 18 -- Bangladesh has taken a coordinated effort to curb trade-based money laundering for mitigating the risks of frauds and forgeries in the banking sector.

Under the move, the Bangladesh Financial Intelligence Unit (BFIU) has already formed a nine-member expert committee to detect such type of money laundering.

The committee has sought information on the loans written-off in the last two consecutive years from all the banks.

Most of the scheduled banks have already provided such information to the committee as per the requirement. The committee will recommend the next course of action after verifying the information sent by the banks.

Trade-based money laundering means smuggling money or property earned throug...