An Insight into bKash’s Anti Money Laundering (AML) & Combating the Financing Terrorism (CFT) Practices to Ensure Perceived Security and to Inspire Customer Trust

Abstract

This report demonstrates how bKash, the largest mobile financial service provider in Bangladesh, ensures safety and security by following Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. It also explains how these efforts help to build customer trust, enhance brand image, and increase the customer satisfaction. In today’s digital world, people worry about the transactions safety and security. If customers feel secure using a service, they are more likely to trust it which builds customer trust. bKash ensures strong perceive security to protect transactions, which helps improve its brand reputation. However, as digital payments is growing, financial crimes like fraud and money laundering have also increasing. To prevent these crimes, bKash’s AML & CFT team follows strict rules set by the Bangladesh Financial Intelligence Unit (BFIU). They verify customers and monitor transactions to detect suspicious activity. A strong security system helps bKash gain customer trust and stay ahead of the competitors like Nagad, Rocket etc. If people believe bKash is safe, they will continue to use it. But if security is weak, customers may lose trust and switch to other services. To keep customers happy and maintain a strong brand image, bKash needs to improve its security. Conducting awareness campaigns and improving digital safety will help bKash to attract new customers and it will make bKash the most trusted mobile financial service provider in Bangladesh.