Check Money Laundering

While Nepal celebrated National Anti-Money Laundering Day with the slogan ‘Transparency in Financial Activities: Commitment to Anti-Money Laundering,’ it is still likely to be listed as a high-risk country in money laundering and subject to international supervision. The Asia Pacific Group (APG) of the Financial Action Task Force (FATF), the body that monitors money laundering, has stated that Nepal is likely to fall into the gray list. Dozens of laws and regulations have been amended to address legislative deficiencies to control money laundering and terrorist financing. However, it is still a challenge for the government to control this invisible financial crime.