The unit was founded as the Anti-Money Laundering Department of Bangladesh Bank in June 2002.

The name of the department was changed to Bangladesh Financial Intelligence Unit on 25 January 2012 through the Money Laundering Prevention Act, 2012.

[4] Asia/Pacific Group on Money Laundering recommended the government to form the unit.

[8][9][10] The move was condemned by the opposition Bangladesh Nationalist Party who described it as an tactic to scare journalists.

[11] On 24 January 2022, the Bangladesh Financial Intelligence Unit sought account information of Nobel Peace Prize winner Muhammad Yunus, a political opponent of Former Prime Minister Sheikh Hasina.