Purpose

This paper aims to critically explore the factors influencing the regulation of gambling and cryptocurrencies as part of anti-money laundering (AML) initiatives in Bangladesh. As a member of the Asia/Pacific Group on money laundering, Bangladesh must adopt a risk-based approach to regulate these entities.

Design/methodology/approach

This study applied an exploratory design and investigated the real nature of the challenge Bangladesh facing in adopting a risk-based approach to regulate gambling and cryptocurrencies.

Findings

This study demonstrates that current regulatory responses towards gambling and cryptocurrencies in Bangladesh are largely influenced by passive wait-and-see policy instead of a proactive risk-based approach, a measure mandated by the Financial Action Task Force (FATF). It demonstrates that these financial entities, which are poorly regulated because of their unclear legal status in Bangladesh and the regulator’s apparent lack of understanding of the type of threats they pose, may facilitate money laundering. Effective risk-based regulation is required to control potential risks.

Research limitations/implications

This paper focuses on two specific areas –gambling and cryptocurrencies – which are linked to two specific FATF Recommendations: designated non-financial businesses and professions (DNFBPs) and new technologies. Further research is required to investigate the concern from the perspective of other entities.

Practical implications

The results of this study will help inform policymakers about ways in which current regulatory approaches may need to be modified to better combat money laundering and financing of terrorism.

Originality/value

According to the authors’ knowledge, this is the first study aiming to explore challenges Bangladesh confronts in implementing a risk-based approach for DNFBPs and new technologies. Therefore, it provides important insights into the dilemma regulators facing in implementing global AML standards within their traditional legislative and regulatory framework.

中文翻译：

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影响孟加拉国赌场和加密货币反洗钱监管方法的因素

目的

本文旨在批判性地探讨影响赌博和加密货币监管的因素，作为孟加拉国反洗钱 (AML) 举措的一部分。作为亚太反洗钱组织的成员，孟加拉国必须采用基于风险的方法来监管这些实体。

设计/方法/方法

本研究采用探索性设计，调查了孟加拉国在采用基于风险的方法来监管赌博和加密货币方面所面临挑战的真实性质。

发现

这项研究表明，孟加拉国目前对赌博和加密货币的监管反应在很大程度上受到被动观望政策的影响，而不是金融行动特别工作组 (FATF) 规定的基于风险的主动方法。它表明，这些金融实体由于其在孟加拉国的法律地位不明确而监管不力，而且监管机构显然对其构成的威胁类型缺乏了解，可能会助长洗钱活动。需要有效的基于风险的监管来控制潜在风险。

研究限制/影响

本文重点关注两个特定领域——赌博和加密货币——它们与两个特定的 FATF 建议相关：指定的非金融企业和专业 (DNFBP) 和新技术。需要进一步研究以从其他实体的角度调查关注点。

实际影响

这项研究的结果将帮助决策者了解可能需要修改当前监管方法的方式，以更好地打击洗钱和恐怖主义融资。

原创性/价值

据作者所知，这是第一项旨在探索孟加拉国在为 DNFBP 和新技术实施基于风险的方法方面面临的挑战的研究。因此，它为监管机构在其传统立法和监管框架内实施全球反洗钱标准所面临的困境提供了重要见解。