APG Delegation in Kathmandu to Assess Anti-Money Laundering Efforts
Summary
A high-level delegation from the Asia Pacific Group is assessing Nepal's progress in combating money laundering amid efforts to exit the FATF grey list, with government officials committed to reforms and international standards.
Key Points
- A delegation from the Asia Pacific Group (APG) is in Kathmandu to evaluate Nepal's efforts against money laundering and terrorist financing.
- Nepal has been on the FATF grey list for 15 months due to weak control over illicit money and is implementing a 15-point action plan to improve.
- High-level meetings have taken place with Nepal's Finance Minister, Foreign Minister, Law Minister, NRB Governor, and Police Inspector General to discuss progress.
- The APG team highlighted the need for stricter supervision, legal reforms, enhanced investigation, prosecution, and coordination among relevant bodies to meet international standards.
