Dhaka, July 23 -- Trade-based money laundering is responsible for around 75 percent of the funds siphoned off from Bangladesh, BIBM revealed in a study.

Most of the funds are laundered through false import and export declarations, according to the findings of the study conducted using data from the National Board of Revenue (NBR).

The findings of the study, conducted by the Bangladesh Institute of Bank Management (BIBM), were presented at a roundtable at the BIBM in Dhaka on Tuesday.

The study, titled "Enforcement Status of the Standards to Prevent Trade-Based Money Laundering", was prepared using responses from officials of 37 banks and was compiled by three BIBM faculty members, two officials from private banks, and one representativ...