Dhaka, Feb. 20 -- Masud Biswas, head of the Bangladesh Financial Intelligence Unit (BFIU), has said that an investigation into money laundering allegations against Mohammad Saiful Alam, the owner of conglomerate S Alam Group, and his wife Farzana Parveen is underway.

He discussed the matter on Tuesday during an event marking the release of the BFIU's annual report, which focuses on combating money laundering and terrorism financing in Bangladesh.

The BFIU's latest report highlights a significant increase in suspicious financial transactions and activities within the country's financial sector over the past year.

S Alam Group, which has expanded from the edible oil and consumer goods market into the energy sector, came under judicial sc...