KATHMANDU, AUGUST 31
Finance Committee Chair of the House of Representatives Krishna Prasad Dahal has underscored the need of effective anti-money laundering literacy in the country.
Addressing a discussion programme on money laundering control that the committee organised today, he said there should be a strong political will in the political leadership to maintain fiscal discipline and good governance.
Committee Chair Dahal urged the Department of Money Laundering Investigation to expand anti-money laundering literacy among the general public.
Dr Hari Nepal, an expert on anti-money laundering, presented a working paper on the occasion, emphasising the initiatives undertaken at the international level to control money laundering, applicable laws and standards, Nepal's commitment and required policies and regulations.
Stating that the people committing financial fraud were the enemies of a welfare state, Dr Nepal said the state should confiscate assets obtained by means of crime as they were illegal goods secured through theft.
Through the working paper, he pinpointed that the state had failed to curb fiscal fraud and crime and higher level corruption as well as to investigate he financing of terrorist activities.
Finance Secretary Krishna Hari Pushkar and Nepal Rastra Bank Governor Maha Prasad Adhikari stressed that the political leadership should come forward with a strong will power for curbing money laundering activities.
They also called for formulating the laws required for the purpose on time.
A version of this article appears in the print on September 1, 2022 of The Himalayan Times.
