Strong political will is essential to combat money laundering activities « Khabarhub


Strong political will is essential to combat money laundering activities

Strong political will is essential to combat money laundering activities

Image for representation. (File photo)

KATHMANDU: Speaker of the House of Representatives and Finance Committee, Krishna Prasad Dahal, has emphasized effective literacy in the fight against money laundering in the country.

Addressing a discussion program on the control of money laundering which the Committee organized today, he said that there should be strong political will among political leaders to maintain budgetary discipline and good governance.

Committee Chairman Dahal urged the Money Laundering Investigation Department to spread anti-money laundering knowledge to the general public.

Anti-money laundering expert Dr. Hari Nepal presented on this occasion a discussion paper highlighting the initiatives taken at the international level in the fight against money laundering, applicable laws and standards, Nepal’s commitment and required policies and regulations.

Describing people who commit financial fraud as enemies of a welfare state, Dr Nepal said the state should confiscate assets obtained through crime, as these are illegal assets obtained through theft.

Through the working paper, he pointed out that the state has failed to tackle tax evasion and crime, high-level corruption, and investigate terrorist activity financing.

Finance Secretary Krishna Hari Pushkar and Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari stressed that political leaders should show strong will to curb money laundering activities. They also called for the timely formulation of the necessary laws for this purpose.

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