Money Laundering Risk and its Mitigation Process Adapted by Janata Bank Ltd. (Performed at Uttara Dakhshinkhan Branch, Dhaka)

Abstract

The value of a country's banking system is rising day by day. Without a sound banking system in modern economic times, it is quite unlikely for any country to progress in the industrial and commercial sector.The bank plays the key economic roles, knowing the performance of banks in their operational areas is important. In addition, the performance of banks should be measured due to the various parties involved in the banking industry. Janata Bank Limited is the biggest public bank in Bangladesh and it is already at the top slot in terms of quality service to the customers. As the internship program requirement, I must have to submit a report to Daffodil International University. This is a great opportunity for me to learn the corporate environment and to judge myself. To fulfil that requirement, I have prepared a report on the practical experience that I gained at the time of working in JBL. My practicum report is on topic “Money Laundering Risk and its Mitigation Process Adapted by Janata Bank Ltd.” For completing the report, I studied on the topic and collected data from some primary and secondary sources.Here in this report I used both primary data and secondary data. The report is mainly divided into several parts. The first part gives an overview of Janata Bank Limited. The information for the organizational part was collected from annual reports, published reports, newspaper and web site of JBL. In the topic part I described the Risk Management system, money laundering risk its mitigation process adapted by Janata Bank and the observation and findings of the money laundering risk on Janata Bank Limited. The report contains an important part named Findings, Recommendation and conclusion. In that part I described about my task and practical learning working in the bank. When I was working in JBL Uttara Dakhshinkhan Branch, I noticed that Uttara Dakhshinkhan Branch doesn’t have all the proper information of Anti-Money Laundering risk management. So for collecting the proper and relevant information’s I went to the main branch to collect the related information’s for my report. Based on the research I have drawn some findings and gave some recommendations that will help to look deeply into the topic.