DHAKA, 9 March, 2021 (TON): A senior police official confirmed Banned Bangladeshi militant outfits to send a huge amount of money to another extremist group in Kashmir in the form of cryptocurrency.

A Special Action Group of the Dhaka Metropolitan Police's (DMP)Counter-Terrorism and Transnational Crime Unit (CTTC), had arrested two AI militants, Awal Newaz alias Sohel Newaz and Fazle Rabbi Chowdhury, in September 2019, the official said.

Since 2014, the militants were receiving huge funds through Bitcoin, the militant groups said during interrogation.

The two also mentioned that they collected huge sums of money from Pakistan and Gulf countries also in the form of cryptocurrency.

Earlier they used to get money through hundi, but because the law enforcers kept in under surveillance, they shifted to Bitcoin, they claimed.

Ahmedul Islam, Additional Deputy Commissioner of the Special Action Group, terror financing is largely being carried out with the help of cryptocurrency.

"It's very tough to monitor the illegal transaction of Bitcoin as we have not advanced technical devices to monitor it.

"It'll be a big challenge for the law enforcers to check the virtual currency in the future," he added.

However, Bangladesh has banned virtual currency. In December 2017, the Bangladesh Bank issued a notice asking everyone to refrain from such transactions.