Policies, instrumentalities, compliance and control: combatting money laundering in Bangladesh

Purpose Money laundering (ML) has become a global threat in recent years, impacting both developed and poor countries. Developing an efficient anti-money laundering (AML) regime is a difficult and time-consuming process owing to the ever-changing spectrum of methods used, weaknesses in control mechanisms, intricacies of laws and regulations, organizational malfunction and goal displacement. In Bangladesh, surge of illegal money, rising money heists and egregious capital outflows have posed a governance problem. The purpose of this study is to investigate the dimensions of ML and examine the structure and performance of the AML regime. Design/methodology/approach This study adopts a qualitative method, based on a thorough review of the conceptual and empirical literature on ML, content analysis of a range of publications,…