Kathmandu. Nepal has failed to get out of the grace list of money laundering. The Financial Action Task Force (FATF) has refused to remove the grey list of money laundering in Nepal. However, the FATF has suggested the main actions that Nepal should take to combat money laundering. <\/p>\n
The plenary meeting of the FATF was held in Paris, France on Friday. After the meeting, the FATF issued a report and kept the previous decision to keep Nepal in the grey list. <\/p>\n
According to the report released after the full meeting of the FATF held in Paris, France, on Friday, Nepal is still in the ‘grey list’. <\/p>\n
According to the FATF, Nepal has made some improvements in its financial system in recent years. “However, strategic weaknesses remain to be fully addressed,” the report said, adding that Nepal should pay attention to controlling hundi transactions and strictly supervising high-risk cooperatives and casinos. \u2019<\/p>\n
The FATF has suggested Nepal to resolve its strategic weaknesses within the stipulated timeframe and fully implement the action plan. <\/p>\n
To get out of the grey list, Nepal needs to identify and reform the risks of money laundering and terrorist financing, improve the risk-based supervision system of commercial banks, high-risk cooperatives, casinos, precious metals and stones, and real estate, identify hundi transactions and take stern action, and enhance the capacity of Nepal’s competent agencies to conduct in-depth investigations into money laundering related issues. It has suggested that crimes related to purging should be investigated and dealt with in a lawful manner and the mechanism to confiscate criminally obtained income and used resources in the name of the state should be proved. <\/p>\n
The FATA has kept it in the grey list for two years from February 2081. Now there is more pressure on Nepal to complete the remaining commitments to get out of the grey list on time.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Nepal has failed to get out of the grace list of money laundering. The Financial Action Task Force (FATF) has refused to remove the grey list of money laundering in Nepal. However, the FATF has suggested the main actions that Nepal should take to combat money laundering. The plenary meeting of the FATF was […]<\/p>\n","protected":false},"author":16,"featured_media":243162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45060,45159],"tags":[58954],"class_list":["post-304297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-en","category-news-en","tag-nepal-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=304297"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304297\/revisions"}],"predecessor-version":[{"id":304298,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/304297\/revisions\/304298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/243162"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=304297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=304297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=304297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}