Police probe 64 suspects in 25 money laundering cases amid FATF pressure
Summary
Nepal Police is probing 25 money laundering cases involving 64 suspects as the country faces continued FATF scrutiny and pressure to strengthen anti-money laundering enforcement. The Supreme Court has also upheld the acquittal of Chakre Milan in a separate money laundering case.
Key Points
- Nepal Police is investigating 25 money laundering cases involving 64 suspects, with 28 cases filed so far and assets worth around Rs. 1.50 billion frozen.
- Authorities say the crackdown is aimed at helping Nepal exit the FATF grey list and strengthen anti-money laundering and counter-terrorist financing enforcement.
- Police have prioritized high-risk offences such as human trafficking, narcotics trafficking, hundi, tax evasion, corruption, cybercrime and cryptocurrency-related activity.
- The Supreme Court acquitted Milan Gurung, known as Chakre Milan, in a money laundering case, upholding the Special Court’s earlier verdict.
