Investigations and actions to be made effective to get out of FATF ‘grey list’

Kathmandu, July 11: Nepal Rastra Bank (NRB) has adopted a policy to effectively monitor, investigate, and take action against suspicious transactions in order to remove Nepal from the ‘grey list’ of the Financial Action Task Force (FATF) regarding the money laundering issue.

The monetary policy for the upcoming fiscal year 2082/83 (2025-26) states that investigation, prosecution and action will be made effective to quickly remove Nepal from the grey list according to the action plan.

Effective coordination will be ensured among the concerned bodies to complete the tasks as per the action plan to free Nepal from the FATF’s rigorous surveillance list, also known as the grey list, it is stated.

“The surveillance, research, and actions will be further strengthened for the full implementation of the national strategy and action plan related to the central bank,” it is stated in the monetary policy.

The monetary policy mentions that priority actions and improvement suggestions related to the regulatory bodies outlined in Nepal’s third phase mutual evaluation report published by the Asia-Pacific Group (APG) will be implemented with priority.

It is also stated that the financial intelligence for transmitting financial information from the unit under the central bank to the relevant bodies will be automated, facilitating the effectiveness of the investigation.