Thailand is the Lead Shepherd of the Sub-Group.
The First Meeting of JWG-CTTC held on 09-10 December 2004 in New Delhi, India decided to create the Sub-Group on Anti-Money Laundering and Combating the Financing of Terrorism(SG-AML/CFT) with the objective to fostering and strengthening cooperation, including sharing of information, to counter all forms of financing of terrorism, and money laundering among the Member States.
From its inception in 2004, this Sub-Group met 12 times to exchange of best practices in dealing with prevention of money laundering and combating the financing of terrorism and exchange of information/intelligence regarding financing of terrorism and money laundering.
Now, this Sub-Group is working to prepare a report on Illicit Flow of Funds (IFF) and an action plan to prevent the IFF among the BIMSTEC Member States.
# List of Meetings of SG-AML/CFT held so far:
| Meetings | Venue | Date |
| 12th SG-AML/CF | Bangkok, Thailand [virtual] | 16 August 2022 |
| 11th SG-AML/CFT | Bangkok, Thailand | 03-04 September 2019 |
| 10th SG-AML/CFT | Kathmandu, Nepal | 19-20 November 2018 |
| 9th SG-AML/CFT | Yangon, Myanmar | 26-27 April 2017 |
| 8th SG-AML/CF | Colombo, Sri Lanka | 16-17 March 2016 |
| 7th SG-AML/CFT | Thimphu, Bhutan | 27-28 May 2015 |
| 6th SG-AML/CFT | New Delhi, India | 05-07 February 2014 |
| 5th SG-AML/CFT | Dhaka, Bangladesh | 06-08 March 2013 |
| 4th SG-AML/CFT | Bangkok, Thailand | 19-20 March 2012 |
| 3rd SG-AML/CFT | Phuket, Thailand | 15-16 May 2007 |
| 2nd SG-AML/CFT | Chiang Mai, Thailand | 08-09 May 2006 |
| 1st SG-AML/CFT | Bangkok, Thailand | 28-29 April 2005 |