Emerging E-Commerce Platforms and Money Laundering in Bangladesh: A Critical Analysis of the Policy Response by the Government

• Main Author: Haq, Md Zahurul
• Format: Conference or Workshop Item
• Language: English
• Published: 2022
• Subjects: K Law (General)
• Online Access: https://repo.uum.edu.my/id/eprint/30474/1/SOLAS%20VI_2022_185_191.pdf; https://repo.uum.edu.my/id/eprint/30474/
• Institution: Universiti Utara Malaysia

This research aims to explore the e-commerce regulations in Bangladesh in the wake of growing criticism that they are not enough to curve fraudulent activities in the online marketplace. As a member of the global community against money laundering, Bangladesh must close all possible loopholes in financial transactions that criminals could exploit. This research applied an experimental design. It studies the laws and ministerial guidelines on e-commerce in Bangladesh to understand the 'legal and regulatory framework' on payment solutions. The findings demonstrate that Bangladesh's regulatory responses towards fraud prevention and detection in the e­commerce sector are inadequate. On top of that, the regulators are often unwilling to enforce available provisions for several reasons, including a lack of knowledge and coordination among the agencies.