Nepal remains on FATF grey list, asked to strengthen anti-money laundering measures
Summary
Nepal remains on the FATF grey list with a call to strengthen anti-money laundering and counter-terrorism financing measures. Efforts continue to address regulatory deficiencies and illegal money transfer activities.
Key Points
- Nepal remains on the FATF grey list under increased monitoring due to deficiencies in its anti-money laundering and counter-terrorism financing regime.
- The FATF acknowledged Nepal's progress but urged improvements in risk understanding, supervision of financial sectors, and actions against illegal money transfer methods.
- Nepal has committed to implementing reforms regarding money laundering risks, banking supervision, and strengthening prosecution efforts.
- The FATF clarified that being on the grey list does not disrupt remittances or legitimate financial flows to Nepal.
