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The Bangladesh Financial Intelligence Unit (BFIU) received a record 30,199 Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) in fiscal year 2024-25, a 74 percent increase from the previous fiscal year, reflecting tighter financial surveillance and improved detection of illicit financial activities.
According to the BFIU’s annual report, unveiled at a press conference at Bangladesh Bank headquarters on Wednesday, the total comprised 20,524 STRs and 9,675 SARs.
BFIU Head Iqtiaruddin Md. Mamun said the sharp rise was driven by intensified monitoring following the fall of the Awami League government, which led to closer scrutiny of suspicious transactions across the banking and financial sectors.
The report attributed the increase to stronger regulatory enforcement, enhanced transaction monitoring systems, greater awareness among reporting entities about money laundering and terrorist financing risks, and a rise in suspicious activities linked to online gambling, betting, foreign exchange and cryptocurrency trading, and digital hundi operations.
Over the past five fiscal years, the number of STRs and SARs has increased nearly sixfold, climbing from 5,280 in FY2020-21 to 30,199 in FY2024-25.
The banking sector remained the largest source of financial intelligence, submitting 28,755 reports, accounting for about 95 percent of the total. This was an 80 percent increase from 15,991 reports in FY2023-24 and more than double the 12,809 reports filed in FY2022-23.
Financial institutions submitted 250 reports, while money remitters filed 1,095 reports, representing around one percent and four percent of the total, respectively.
The report also noted stronger cooperation between the BFIU and law enforcement agencies. Requests for financial intelligence rose nearly 15 percent to 1,329 in FY25 from 1,157 a year earlier, with the Criminal Investigation Department (CID) of Bangladesh Police and the Anti-Corruption Commission (ACC) making the highest number of requests.
Meanwhile, banks reported 31.25 million cash transactions worth Tk 19.45 trillion under the Cash Transaction Report (CTR) framework, while finance companies reported 1,484 transactions valued at Tk 2.17 billion.
The BFIU said the decline in CTR submissions reflects Bangladesh Bank’s continued efforts to promote a cashless, digitally enabled financial system.