Suspicious transaction on money laundering up by 49 percent

Kathmandu: The financial information unit’s report for the year 2024 has shown an alarming rise in suspicious transactions on money laundering and related activities in a year.

The unit of Nepal Rastra Bank made public the report today. According to NRB, The number of reports on suspicious transactions and activities listed firms as per the Anti-Money Laundering Act, 2064, was 6,255 in 2023, which reached 9,304 with the increase by 49 percent increase in 2024.

During the reporting period, a total of 1,894 reports were analysed. Among these, 1,086 were sent to the related agency for further investigation and necessary action.

The NRB has also documented 808 cases for further analysis in case of need in future. The firms listed at NRB had submitted as many as 1.7 million transaction details as per sealing in 2023, while the number shot to 1.97 million in 2024.

Even the number of institutions relating to anti-money laundering witnessed an increasing trend, from 1905 in 2024, while there were 1,496 such institutions in 2023.

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