Dhaka, May 27 -- The mobile financial services (MFS) sector in Bangladesh is being used as a key channel for illegal financial transactions, including money laundering, bribery, online gambling, terrorist financing, and cryptocurrency trading, a latest Transparency International Bangladesh (TIB) study has revealed.

Released on Tuesday at a press conference at its office in Dhaka, the study titled 'Governance Challenges in Mobile Financial Services Sector in Bangladesh' analysed 13 active MFS providers (MFSPs) and the roles of relevant regulatory and supervisory institutions. Data collection for the study spanned from November 2023 to May 2025.

Survey findings show that 6.3 per cent of individual account holders, 17.0 per cent of agents ...