<Li> to enable law enforcement authorities to effectively trace such proceeds, benefits and property . </Li> <P> The first anti-money laundering legislation in Bangladesh was the Money Laundering Prevention Act, 2002 . It was replaced by the Money Laundering Prevention Ordinance 2008 . Subsequently, the ordinance was repealed by the Money Laundering Prevention Act, 2009 . In 2012, government again replace it with the Money Laundering Prevention Act, 2012 </P> <P> In terms of section 2, "Money Laundering means--(i) knowingly moving, converting, or transferring proceeds of crime or property involved in an offence for the following purposes: - (1) concealing or disguising the illicit nature, source, location, ownership or control of the proceeds of crime; or (2) assisting any person involved in the commission of the predicate offence to evade the legal consequences of such offence; (ii) smuggling money or property earned through legal or illegal means to a foreign country; (iii) knowingly transferring or remitting the proceeds of crime to a foreign country or remitting or bringing them into Bangladesh from a foreign country with the intention of hiding or disguising its illegal source; or (iv) concluding or attempting to conclude financial transactions in such a manner so as to reporting requirement under this Act may be avoided; (v) converting or moving or transferring property with the intention to instigate or assist for committing a predicate offence; (vi) acquiring, possessing or using any property, knowing that such property is the proceeds of a predicate offence; (vii) performing such activities so as to the illegal source of the proceeds of crime may be concealed or disguised; (viii) participating in, associating with, conspiring, attempting, abetting, instigate or counsel to commit any offences mentioned above . </P> <P> To prevent these Illegal uses of money, the Bangladesh government has introduced the Money Laundering Prevention Act . The Act was last amended in the year 2009 and all the financial institutes are following this act . Till today there are 26 circulars issued by Bangladesh Bank under this act . To prevent money laundering, a banker must do the following: </P>

Joint financing by more than one bank is known as