KATHMANDU: House of Representatives, Finance Committee president Krishna Prasad Dahal has underscored on an effective anti-money laundering literacy in the country.
Addressing a discussion program on money laundering control the Committee organized today, he said there should be a strong political will in the political leadership for maintaining fiscal discipline and good governance.
Committee president 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, highlighting on the initiatives undertaken at the international level regarding controlling money laundering, the applicable laws and standards, Nepal’s commitment and the required policies and regulations.
Describing the people committing financial fraud as the enemies of a welfare state, Dr Nepal said that the State should confiscate the assets obtained by means of crime as these are illegal goods secured through theft.
Through the working paper, he has pointed out that the State has failed to curb fiscal fraud and crime, higher level corruption and to investigate into financing of terrorism activities.
Finance Secretary Krishna Hari Pushkar and Nepal Rastra Bank (NRB) 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 this purpose on time.
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