News & Updates :04-08-2017
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MoF forms Anti-Money Laundering Cell

The Ministry of Finance (MoF) has formed an ‘Anti-Money Laundering Cell’ to facilitate the government initiatives to curb money laundering activities.

The MoF has formed the cell under the leadership of its Economic Policy Analysis Division that will study the government’s initiatives on anti-money laundering programmes and recommend necessary corrective measures.

According to Finance Secretary Shanta Raj Subedi, the cell will finalise the agenda for the annual meeting of Asia Pacific Group on Money Laundering that is going to held next year in Nepal.

As per him, representatives of  Anti-Money Laundering Department and Nepal Rastra Bank will be themembers of the cell.

The government has also formed 16 sub-committees under the main committee, which will study the laws related to anti-money laundering, capacity enhancement of related organisations and submit recommendations for organisational reforms.

The committee has also been assigned to formulate a national strategy on anti-money laundering and against financing of terrorist activities. The committee will also submit its recommendations to MoF about coordination between the government bodies on the issue.

“We hope that it will help to reform the national system on anti-money laundering,” Subedi said.

Source: The Himalayan Times

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