BB warns expatriates against Hundi, suspends 480 MFS agents' accounts
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...
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