BFIU warns against transactions on 31 illegal apps

The Bangladesh Financial Intelligence Unit (BFIU), the country's financial intelligence agency, has issued a warning to the public regarding 31 illegal mobile applications. The agency stated that no financial transactions should be conducted through these platforms. The directive was issued recently through an official notification to safeguard public interest.

According to BFIU investigations, these 31 apps were being actively used for illegal activities such as online gambling, betting, cryptocurrency trading, and hundi operations. These activities have contributed to significant capital flight from the country. Furthermore, many general users have fallen victim to fraud by investing their hard-earned money in these unauthorized platforms.

To curb this illegal flow of money, BFIU has directed all commercial banks, mobile financial services (MFS), and other financial institutions to remain vigilant. They have been instructed to ensure that no customer can transact money using these blacklisted apps. Additionally, law enforcement agencies have been requested to track down the operators behind these digital platforms.

Financial experts believe that regular monitoring is essential to stop the spread of such illegal apps leveraging technology. They also advised citizens to refrain from investing in unknown apps promising high returns. BFIU has indicated that it will continue to strengthen its surveillance to prevent illegal digital transactions in the future.