Dhaka, Nov. 17 -- Bangladesh Bank has urged expatriates to send money through the banks, reminding them of legal consequences for using illegal means to conduct cross-border transactions.

It also suspended 480 Mobile Financial Service or MFS agents' accounts recently for their involvement in the transfer of remittances through so-called Hundi, an unauthorised channel.

"Please contribute to nation-building efforts and keep your loved ones safe and free from risks," the central bank said in a statement on Wednesday, reports bdnews24.com.

It said sending money through Hundi is a punishable offence and it causes loss to the country.

The statement also said Bangladesh Financial Intelligence Unit was taking legal action against everyone inv...