NEPAL OVERHAULS AML/CFT LAWS TO AVOID RE-GREYLISTING BY FATF
August 23rd, 2024
The government of the Himalayan republic of Nepal, squeezed between Asian giants India and China, has passed amendments to 20 laws affecting AML/CFT, as it seeks to avoid a re-grey-listing by FATF (1).
Nepal left the FATF grey list in 2014, after a six-year-stay, but a critical mutual evaluation report (MER) from the Asia/Pacific Group on Money Laundering (APG) called for more action (2). This regional FATF-style body concluded: “High level commitment, greater resources, operational-level prioritisation, and cooperation is needed for Nepal to effectively ...
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