Wednesday, 20 October, 2021

Stop dealing with unlicensed courier service: BB

  • Staff Correspondent
  • 8 September, 2021 12:00 AM
  • Print news
Stop dealing with unlicensed courier service: BB

Bangladesh Bank has asked all Bangladeshi citizens to refrain from all kinds of dealing with unlicensed courier services.

The Department of Financial Institutions and Markets of BB issued a circular on Tuesday saying that the Post Office Act 1898 prohibits taking mailing or postal or delivery services through courier services which having no licence.

The BB has increased monitoring and supervision on the activities of courier services after rising complaints of illegal financial transaction including money laundering against those services.

The market monitoring department of BB has recently found suspected financial transaction by false addresses and name of courier services which existence is yet to trace.

The BB has also received allegation that some e-commerce services are using illegal courier services for receiving advance payment and delivering the goods as alternative, because the formal channel (Banks and Mobile Financial Services) has stopped receiving such cash to purchase goods.

Md Zulkar Nayn, General Manager of DFI and Market of BB, said that rising awareness among mass people is only the way to secure people from cheating of such hybrid online business.

“We are trying to aware people along with taking legal action against illegal transaction and good delivery through unauthorised currier service, people also has a duty to be aware themselves,” he said.

Earlier the BB asked the Mobile financial service (MFS) providers and courier companies to take steps to control money laundering and transactions of illegally earned money.

They have been told to strictly follow the provisions relating to KYC (know your customer) so that criminals could be detected.

To stop transportation of drugs, arms and ammunitions, and other illegal goods, the couriers have been asked to set up scanners at their offices for detection.