NBR launches customs risk management to address money laundering

The National Income Council (NBR) issued a notification that introduces the “Regulation on customs risk management, 2025”, which aims to address economic risks, such as money laundering and terrorism financing.

According to the notification, the “economic risk” also refers to the receipts of the crimes, other illegal financial activities, customs and tax evasion and transnational organized economic crimes.

As part of this initiative, a dedicated customs risk managing commissioner (CRMC) will be set up.

CRMC will be responsible for collecting, analyzing and reviewing information related to risks to identify and classify customs risks. It will create and manage risk profiles, update online risk registers, and classify goods-based, yellow, yellow, blue or green-using directing intelligence, artificial intelligence (AI) and advanced data analysis techniques.

It will determine the risk and nature trends, collecting data from national and international sources and analyzing them, will collect data for the purpose of monitoring and revising the economic conditions, geographical conditions, customs duties, customs assessment, customs duties, regional and international agreements, market arrangements and other issues, of research and research activities.

It will determine the criteria for selection of lots based on the random selection for all customs stations and bond commissioners and to update the criteria mentioned from time to time, monitor and supervise the effectiveness of risk management activities, to inform the Council and to make the necessary adjustments and to review the results taken on the basis of the performance basis.

CRMC will collect information and data from any government, semi-governmental and autonomous organization, any person or institution related to import and export, banks, financial institutions and other organizations and will receive the assistance of other organizations in information analysis, if necessary.

It will maintain confidentiality in the storage and use of confidential and sensitive information, will sign any agreement or a memorandum of understanding related to the functions of the commission for customs risks on behalf of the National Income Council, with the prior approval of the National Income Council.

It will issue risk warnings for all the departments in question, identify the risk areas and, if applicable, advising that the VATE Commission of the Customs House or the VAT customs station will do timely measures to solve them, will examine the necessary information related to the risks and updating the risk management indicators.

It will change information and communicate and coordinate regularly with various national and international organizations and institutions involved in managing the risks related to the inter-country border trade, will prepare annual reports and their presentation to the Board of Directors; and to fulfill other duties assigned by the council from time to time.

In order to establish an adequate customs control, the customs risk management commission must use ARMS (automatic risk management system) or an adequate automatic electronic system to determine selectivity after analyzing the risks related to freight, passengers, agents and banks.

The customs risk management commission will collect the relevant data for risk management in the customs computer system.

Any information received from inside or outside Bangladesh or through confidential informants will be collected, analyzed and, if necessary, verified on the spot and used as a risk management criterion.

CRMC may follow and use the model of world customs organization risks or best international practices or any risk management model approved by the Council and may establish a risk register and a risk assessment database accordingly.

In order to monitor the effectiveness of the selectivity system, the CRMC prepares an annual evaluation report from the data stored in the customs computer system or in weapons or any system capable of identifying the efficacy of the selectivity system and the results of the measures to mitigate the risks adopted on the basis of it.