In a bid to control money laundering, Nepal Rastra Bank (NRB) has issued anti-money laundering directives 066. The directive has been issued for the first time.The directives issued on Tuesday has directed the banks and financial institutions to give details of the doubtful transactions to the financial information unit (FIU) of the central bank.
It has directed the financial institutions to keep record of their customers with clear details. The customers have to furnish details as demanded by the financial institutions, as per the directives.
A press statement of the central bank said that the financial institutions were required to provide details about transactions which were beyond limitation.
The financial institutions will have to implement directive by making an internal directive, the NRB said. They will have to send the details about suspicious transactions as per the style fixed by the NRB.
Those financial institutions violating the Asset Laundering Prevention Act 2008 and subsidiary rule, regulations and directives will have to face action as per the Act.
The Act has provisioned that financial institutions or persons violating the Act will be slapped fine equal to the amount involved in the offence or imprisonment from one to four years or both.
Source: Kantipur
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