Has govt endorsed money laundering of cooperative fraud ?

While cases related to cooperative fraud and money laundering are still under judicial and investigative review, a recent controversial decision by the government has pushed Nepal into deeper risk under international anti-money laundering scrutiny.
Analysts warn that Nepal, already on the Financial Action Task Force (FATF) ‘grey list,’ could now be heading toward the far more damaging ‘black list.’
Nepal is currently classified by FATF as a ‘jurisdiction under increased monitoring,’ which means ‘grey list’. However, concerns intensified after the Office of the Attorney General (OAG) decided to amend charge sheets in cases involving Rastriya Swatantra Party (RSP) chair Rabi Lamichhane, his business partner and fugitive GB Rai, altogether 153 accused of cooperative fraud and money laundering. The move has raised fears that international confidence in Nepal’s commitment to fighting illicit finance is eroding.
The present civilian government, led by former Chief Justice Sushila Karki and formed in the aftermath of the Gen-Z protests of September 8 and 9 protests – that claimed the lives of 76 young demonstrators demanding good governance – now finds itself engulfed in a serious moral and legal crisis, largely due to decisions taken by its chief legal advisor.
Those protests were driven by calls for transparency, accountability, and the rule of law. Yet critics argue that the very government formed out of that movement has undermined its spirit. Attorney General Sabita Bhandari, appointed by the Karki administration, has issued a series of controversial decisions that many say strike at the core of judicial integrity.
And one of them is damaging to the country also. Most recently, on Thursday and Friday, Bhandari ordered amendments to charge sheets in money laundering and organised crime cases filed against Rabi Lamichhane, GB Rai – chair of Gorkha Media – and more than hundred others implicated in a major cooperative fraud scandal.
The decision is against the Section 36 of the Criminal Procedure Code, according to legal experts, who say that the OAG has misinterpreted it to alter cases that are already under judicial consideration.
Initially, the Attorney General sought to revise charges only against Rabi Lamichhane. However, citing legal complications in treating defendants differently within the same charge sheet, she ultimately removed organized crime and money laundering charges against all 153 accused linked to five cooperatives associated with Lamichhane. This decision also benefited fugitive suspect GB Rai, who according to Rabi Lamichhane also was the mastermind behind the fraud of billions.
AG Bhandari amended all accused charges as amending charges for only one accused in a case involving multiple defendants could have led to rejection by the court. As a result, even serious allegations against absconding suspects were diluted.
Critics further allege that Friday’s decision effectively legitimizes over Rs 5 billion allegedly siphoned from cooperatives and transferred abroad through shell companies, land transactions, and cryptocurrency. “This move has made it easier for those involved to sanitize illicit funds,” one former secretary said.
“Dropping serious charges against a politically exposed person under FATF’s highest-risk category is an act that places both citizens and the state itself in danger."
FATF classifies Politically Exposed Persons (PEPs), along with their family members and close associates, as high-risk under global Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) standards. Under FATF Recommendations 12 and 22, financial and designated non-financial institutions are required to apply enhanced due diligence and continuous monitoring to such individuals.
FATF also follows the principle of ‘once a PEP, always a PEP,’ meaning that heightened scrutiny does not automatically end when a person leaves office. “Given this framework, it is hard to believe that such a decision was taken without the knowledge or consent of the Prime Minister,” he noted.
Under Nepal’s own laws, organised crime and money laundering cases are not meant to be withdrawn in this manner. Beyond domestic legality, observers warn that the decision has put Nepal’s international financial credibility at stake.
After the controversial decision by AG Bhandari, victims of cooperative fraud have already taken to the streets, accusing the state of failing to recover their savings and protect their rights.
Nepal was previously placed on the FATF grey list due to weak enforcement, delayed investigations, and political interference. Analysts say leniency shown by past governments toward illicit financial networks worsened the situation and that the current administration’s actions have only amplified the risk.
Nepal is under pressure to fully implement its FATF action plan by January 2027. However, delays in completing a national risk assessment, poor coordination among investigative bodies, and a soft approach toward high-profile cases suggest the country may struggle to meet its commitments.
FATF has repeatedly urged Nepal to strengthen oversight of banks, cooperatives, casinos, precious metal and real-estate transactions, curb informal money transfer systems such as hundi – illegal transfer of money – enhance investigative and prosecutorial capacity, and ensure effective confiscation of illicit assets. Full compliance with targeted financial sanctions related to terrorism and weapons of mass destruction has also been emphasised.
Although the government claims to be working closely with FATF and the Asia-Pacific Group (APG) to address these weaknesses, analysts say recent decisions have made Nepal appear increasingly vulnerable in the global fight against money laundering.
As cooperative fraud and money laundering now directly affect Nepal’s international credibility, economic and foreign investment climate, experts warn that continued inaction – and politically motivated decisions – could push the country onto the FATF blacklist.
Observers also question the silence of political parties and civil society as the government appears to undermine the very ideals born out of the Gen-Z movement and the sacrifice of 76 young lives.
Despite having laws and institutions in place to combat illicit finance and terrorist funding, Nepal has produced limited tangible results in investigations, prosecutions, and asset seizures. Critics attribute this not only to institutional weakness but also to long-standing collusion between political leadership and notorious financial middlemen under previous administrations.
Analysts warn that Nepal’s situation deteriorated sharply in the immediate past after the then Prime Minister KP Sharma Oli government withdrew cases against members of the controversial ‘Thurman Gun gang’ and individuals including Deepak Bhatt from the Department of Money Laundering Investigation (DMLI) and Nepal Rastra Bank (NRB). They claim the risk has increased even further under the current government due to its controversial decisions, raising fears that Nepal could slide into the FATF ‘dark grey list’ or even the ‘black list.'
Although Nepal has established rules, laws, and institutional mechanisms to combat money laundering and terrorist financing, it has failed to produce tangible results in practice. As a result, progress in investigations, prosecutions, and asset seizures remains limited. Critics argue that this is not due to government inefficiency alone, but also because of alleged collusion between past governments and notorious networks and intermediaries like the so-called Thurmal Gun gang, during the tenure of former Prime Minister KP Sharma Oli and his Finance Minister Bishnu Paudel.
At present, however, analysts say Nepal has been pushed into even greater risk due to what they describe as the Karki government’s inexplicable leniency toward Rabi Lamichhane, a politically influential figure (PEPs) listed under FATF’s high-risk category.
Similar flawed decisions and delays in enforcing the law under previous governments led to Nepal being placed back on the FATF ‘grey list.'
Observers now find it troubling that a country already weakened by alleged close ties between political leaders and intermediaries accused of laundering illicit money may be moving toward the FATF ‘black list’ under Prime Minister Karki and her controversial Attorney General Bhandari.
This is because money laundering in Nepal is not limited to brokers and intermediaries alone; it is also widespread among politically connected figures like Rabi Lamichhane involved in the cooperative sector. Many cooperatives are allegedly operated by politicians and their family members, where public funds are misappropriated while enjoying protection from political parties and law-enforcement agencies. Rabi Lamichhane, critics argue, is only an example of a much broader problem.
For these reasons, the Lamichhane case is no longer just a domestic legal matter, it has become a test of Nepal’s commitment to global financial integrity. Failure to correct course, experts warn, could see Nepal slide from the grey list into the far more damaging FATF blacklist.

(Originally published at Nepalkhabar: https://en.nepalkhabar.com/news/detail/16925/)

कालो धन कारोबारलाई प्रधानमन्त्री कार्कीको स्वीकृति ? नेपाल कालोसूचीमा पर्ने जोखिम

सहकारी ठगी र सम्पत्ति शुद्धीकरणका मुद्दा अझै अदालत र अनुसन्धान प्रक्रियामै रहेका बेला सरकारको हालैको एक विवादास्पद निर्णयले कालोधन ओसारपसारसम्बन्धी अन्तर्राष्ट्रिय निगरानी सूचीमा रहेको नेपालका लागि झन् गम्भीर जोखिम उत्पन्न गरेको छ। विशेषगरी फाइनान्सियल एक्सन टास्क फोर्स (एफएटीएफ) को ‘ग्रे लिस्ट’ (खैरो सूची)मा रहेको नेपाल अब ‘ब्ल्याक लिस्ट’ (कालोसूची)तर्फ उन्मुख हुन सक्ने आशंका बढेको छ।
नेपाल हाल एफएटीएफको ‘खैरो सूची’ अर्थात् औपचारिक रूपमा बढी निगरानीमा रहेका क्षेत्राधिकारको सूचीमा छ।
तर महान्यायाधिवक्ता कार्यालयले राष्ट्रिय स्वतन्त्र पार्टीका सभापति रवि लामिछाने, उनका साझेदार तथा हाल फरार जीबी राईसहित १५३ जनाविरुद्ध दायर सहकारी ठगी तथा सम्पत्ति शुद्धीकरणसम्बन्धी मुद्दामा अभियोगपत्र परिमार्जन गर्ने निर्णय गरेपछि अन्तर्राष्ट्रिय तहमा नेपालप्रतिको विश्वास कमजोर हुन सक्ने चिन्ता व्यक्त गरिएको हो।
सुशासनका लागि गत भदौ २३ र २४ गते जेनजीले गरेको प्रदर्शनका क्रममा मारिएका युवाहरूको रगतको जगमा बनेको पूर्वप्रधानन्यायाधीश सुशीला कार्की नेतृत्वको सरकार यतिबेला आफ्नै कानुनी सल्लाहकारका कारण गम्भीर नैतिक र कानुनी संकटमा फसेको हो। सुशासन, पारदर्शिता र कानुनी राज्यको माग गर्दै जेनजी विद्रोह भएको थियो। तर, त्यसैको जगमा सत्तामा पुगेकी कार्कीले नियुक्त गरेकी कानुनी सल्लाहकार अर्थात् महान्यायाधिवक्ता सविता भण्डारीले एकपछि अर्को विवादास्पद निर्णय गर्दै जाँदा न्यायको मर्ममाथि नै प्रहार भएको छ। 
पछिल्लो समय महान्यायाधिवक्ता भण्डारीले तीनवटा ठूला र संवेदनशील प्रकरणमा लिएका विवादास्पद निर्णयले प्रधानमन्त्री कार्कीप्रति मात्र नभएर नेपालकै न्याय प्रणालीमा शंका उत्पन्न भएको छ।
भण्डारीले बिहीबार र शुक्रबार सहकारी ठगी प्रकरणका आरोपित राष्ट्रिय स्वतन्त्र पार्टी (रास्वपा)का सभापति रवि लामिछाने र गोरखा मिडिया प्रालिका अध्यक्ष जीबी राईसहित १५३ जनाविरुद्धको सम्पत्ति शुद्धीकरण र संगठित अपराधको मुद्दाको अभियोगपत्र संशोधन गर्ने निर्णय गरिन्। मुलुकी फौजदारी कार्यविधि संहिताको दफा ३६ को ‘गलत प्रयोग’ गर्दै भण्डारीले विचाराधीन मुद्दाको अभियोगपत्र संशोधन गर्न निर्देशन दिएकी हुन्।
महान्यायाधिवक्ता भण्डारीले सुरुमा रवि लामिछानेको अभियोगपत्र सच्याउने निर्णय गरेकी थिइन्। तर एउटै अभियोगपत्रमा रहेका अन्य अभियुक्तहरूका हकमा फरक व्यवहार गर्दा कानुनी जटिलता देखिने भएपछि रविसँग जोडिएका पाँच सहकारीका सबै १५३ प्रतिवादीलाई ‘संगठित अपराध’ र ‘सम्पत्ति शुद्धीकरण’ अभियोगबाट मुक्त गर्ने विवादास्पद निर्णय गरिन्।
एउटै प्रकृतिको अपराधमा संलग्नमध्ये एक जनाको मात्रै अभियोग परिमार्जन गर्दा अदालतबाट अस्वीकार हुन सक्ने अवस्था भएकाले फरार अभियुक्त जीबी राईजस्ता व्यक्तिको हकमा समेत गम्भीर अभियोग हटाइएको हो।
यो विवादास्पद निर्णयसँगै सहकारी ठगीबाट आर्जित तथा विभिन्न कम्पनी, जग्गा कारोबार र क्रिप्टो करेन्सीमार्फत नेपालबाहिर लगिएको ५ अर्ब बढी रकम वैध बनाउने रवि लामिछाने र जीबी राईको प्रयासलाई महान्यायाधिवक्ता भण्डारीले सहज बनाइदिएकी छिन्।
'एफएटीएफले उच्च निगरानीमा राखेको राजनीतिक रूपमा प्रभावशाली व्यक्तिसँग जोडिएको मुद्दा फिर्ता गर्नु राज्यले आफ्नै नागरिक र अन्तर्राष्ट्रिय प्रतिबद्धतामाथि जोखिम निम्त्याउनु हो,' एक पूर्वसचिव भन्छन्।
एफएटीएफले सबैभन्दा बढी निगरानी गर्नुपर्ने सूचीमा पहिलो नम्बरमा राखेको राजनीतिज्ञको गम्भीर प्रकृतिको मुद्दाफिर्ताको आफैँमा नेपाल देश र नेपाली नागरिकप्रति सरकारले गरेको ठूलो अपराध भएको उनको भनाइ छ।
स्मरण रहोस्, एफएटीएफले कालोधनको ओसारपसारको जोखिमअन्तर्गत सम्पत्ति शुद्धीकरण निवारण/आतंकवादी गतिविधिमा वित्तीय सहयोग निवारण (एएमएल/सीएफटी) वर्गीकरण गर्दा राजनीतिकरूपमा प्रभावशाली व्यक्ति (पेप्स), तिनका परिवारका सदस्य तथा नजिकका सहयोगीहरूलाई घुसखोरी, भ्रष्टाचार र सम्पत्ति शुद्धीकरणमा संलग्न हुने सम्भावनाका कारण उच्च जोखिम समूहका रूपमा पहिचान गरेको छ।
एफएटीएफको सिफारिस नम्बर १२ र २२ अनुसार यस्ता व्यक्तिहरूको कारोबारमा वित्तीय तथा गैर–वित्तीय संस्थाले कडा निगरानी र जोखिम व्यवस्थापन प्रणाली लागू गर्नुपर्ने स्पष्ट व्यवस्था छ।
एफएटीएफले अपनाएको ‘एक पटक पेप्स, सधैं पेप्स’ सिद्धान्तअनुसार पदबाट बाहिरिएपछि पनि जोखिम मूल्याङ्कनका आधारमा राजनीतिक रूपमा प्रभावशाली व्यक्तिमाथि निरन्तर निगरानी आवश्यक मानिन्छ। यही सन्दर्भमा ती पूर्वसचिव भन्छन्, 'यस्ता गम्भीर अभियोग हटाउने निर्णय प्रधानमन्त्रीको जानकारी वा सहमतिबिना भएको हो भन्न गाह्रो छ।'
एफएटीएफको मार्गदर्शनअनुसार राजनीतिकरूपमा प्रभावशाली व्यक्तिको हैसियतको समय सीमित हुँदैन भन्दै उनी भन्छन्, 'जोखिम मूल्याङ्कनको आधारमा कुनै व्यक्ति पदबाट बाहिरिएपछि पनि सधैं राजनीतिकरूपमा प्रभावशाली व्यक्तिकै रूपमा व्यवहार गर्न सकिने खुला दृष्टिकोण अपनाउन एफएटीएफले सुझाव दिएको छ।'
एकातिर नेपाली कानुनअनुसार पनि संगठित अपराध र सम्पत्ति शुद्धीकरणजस्ता गम्भीर मुद्दा फिर्ता गर्न नमिल्ने अवस्था छ भने अर्कोतिर यस्तो निर्णयले नेपालको अन्तर्राष्ट्रिय आर्थिक प्रतिष्ठामै प्रश्न उठाएको छ। सहकारी ठगीका पीडितहरू राज्यले बचत फिर्ता गराउन प्रभावकारी भूमिका नखेलेको भन्दै सडक आन्दोलन र न्यायिक पहलमा उत्रिएका छन्।
यसअघि पनि कानुन कार्यान्वयनमा कमजोरी, अनुसन्धानमा ढिलाइ र राजनीतिक हस्तक्षेपका कारण नेपाल एफएटीएफको ‘खैरो सूची’मा परेको थियो। विश्लेषकहरूका अनुसार अघिल्ला सरकारका विवादास्पद निर्णय र कालोधनसँग जोडिएका गिरोहप्रति देखिएको उदारताले स्थिति बिग्रिएको थियो। र, वर्तमान सरकारको विवादास्पद निर्णयले जोखिम झन् बढाएको छ।
नेपाल ‘खैरो सूची’बाट बाहिर निस्कन सन् २०२७ जनवरीसम्म कार्ययोजना कार्यान्वयन गर्नुपर्ने दबाबमा छ। तर एकीकृत राष्ट्रिय जोखिम मूल्याङ्कन प्रतिवेदन समयमै तयार नहुनु, अनुसन्धान निकायबीच समन्वयको कमी र ठूला मुद्दामा देखिएको नरम व्यवहारले लक्ष्य हासिल गर्न कठिन हुने संकेत देखिएको छ।
एफएटीएफले बैंक, सहकारी, क्यासिनो, बहुमूल्य धातु तथा घरजग्गा कारोबारजस्ता जोखिम पहिचान, उच्च जोखिम क्षेत्रमा कडा निगरानी, हुण्डी नियन्त्रण, अनुसन्धान र अभियोजन क्षमता सुदृढीकरण तथा अवैध सम्पत्ति जफत प्रक्रिया प्रभावकारी बनाउन स्पष्ट सुझाव दिएको छ। साथै आतंकवाद र आम विनाशकारी अस्त्रमा हुने वित्तीय लगानी रोक्न लक्षित प्रतिबन्धको पूर्ण पालना गर्न आग्रह गरेको छ।
नेपाल सरकारले एफएटीएफ र एसिया–प्यासिफिक ग्रुप (एपीजी)सँग मिलेर कमजोरी सुधार्ने प्रतिबद्धता जनाउँदै आए पनि पछिल्ला विवादास्पद निर्णयले नेपाललाई कालोधन ओसारपसारविरुद्धको अन्तर्राष्ट्रिय लडाइँमा अझै कमजोर देखाएको विश्लेषकहरूको ठम्याइ छ।
सहकारी ठगी र सम्पत्ति शुद्धीकरण अब केवल आन्तरिक कानुनी विषय मात्र नभई नेपालको अन्तर्राष्ट्रिय विश्वसनीयता, आर्थिक प्रतिष्ठा र वैदेशिक लगानीसँग प्रत्यक्ष जोडिएको मुद्दा पनि भएका कारण यस्ता निर्णयमा सुधार नआए, नेपाल कालोसूचीमा धकेलिन सक्ने चेतावनी पनि विज्ञहरूले दिएका छन्।
यसरी भदौ २३ र २४ को जेन जी आन्दोलको मर्म, कलिला शहिदको सपना तथा कानुनी राज्यको धज्जी उडाउँदै प्रधानमन्त्री कार्की सरकारले नेपाललाई अन्तर्राष्ट्रियस्तरमा कालोसूचीमा धकेल्ने विवादास्पद निर्णय गर्दा राजनीतिक दलहरू तथा नागरिक समाजको मौनता रहस्यमय छ।
नेपालले कालो धनको ओसार पसार र आतंकवादी लगानीविरुद्ध नियम, कानुन र संयन्त्र बनाए पनि व्यवहारमा ठोस परिणाम देखाउन नसकेका कारण अनुसन्धान, अभियोजन र सम्पत्ति जफतजस्ता उपलब्धि न्यून छन्। यसको कारण सरकारको असक्षमता मात्र नभई अघिल्ला सरकारका प्रधानमन्त्री केपी शर्मा ओली तथा उनका अर्थमन्त्री विष्णु पौडेलको थर्मन गन ग्याङजस्ता बदनाम गिरोह र ‘बिचौलिया’हरूसँग विगतका सरकारहरूको साँठगाँठ रहेको आरोप छ। तर, एफएटीएफको उच्च जोखिम सुचीमा रहेको प्रभावशाली राजनीतिक ब्यक्ति रवि लामिछानेप्रति कार्की सरकारको रहस्यमय प्रेमका कारण नेपाल थप जोखिममा परेको छ।
अघिल्लो सरकारका यस्तै गलत निर्णय तथा कानुन कार्यान्वयनमा ढिलाइका कारण नेपाललाई एफएटीएफले ‘ग्रे लिस्ट’मा पुनः राखेको थियो। ओली तथा पौडेलको बेडरुमसम्म कालोधनका ओसारपसारका आरोपित थर्मन गन ग्याङजस्ता विचौलिया तथा आरोपीसँग सम्बन्ध भएका कारण खैरो सूचीमा परेको नेपाल वर्तमान प्रधानमन्त्री कार्की तथा उनका विवादित महान्यायाधिवक्ता भण्डारीका कारण कालोसूची उन्मुख हुनु दुखद छ।
ओली सरकारले सम्पत्ति शुद्धीकरण अनुसन्धान विभाग तथा नेपाल राष्ट्र बैंकमा रहेका थर्मन गन ग्याङ र दीपक भट्टसहितका व्यक्तिविरुद्ध ती गिरोहका मुद्दा फिर्ता लिँएका कारण तत्कालनि अवस्थामा नेपालको अवस्था झन् बिग्रिएको थियो भने वर्तमान सरकारको विवादास्पद निर्णयले झन् जोखिम बढेर नेपाल ‘डार्क–ग्रे लिस्ट’ वा ‘ब्ल्याक लिस्ट’मा पर्ने जोखिम बढेको चेतावनी विश्लेषकहरूले दिएका छन्।
किनकि नेपालमा कालो धन ओसार पसार केवल बिचौलियामाझ मात्र नभई सहकारी क्षेत्रमा संलग्न राजनीतिक नेताहरूमाझ पनि व्यापक रहेको छ। धेरै सहकारी राजनीतिक नेता र उनीहरूको परिवारले चलाइरहेका छन्, जहाँ जनताको पैसा ठगी हुँदासमेत दल र कानुन कार्यान्वयन निकायको संरक्षण पाइरहेको आरोप छ। रवि लामिछाने त एउटा उदाहरण मात्र हुन्।
त्यसैले रवि लामिछानेको सहकारी ठगी र सम्पत्ति शुद्धीकरण मुद्दा केवल नेपालको घरेलु कानुनी मामला मात्र होइन अन्तर्राष्ट्रिय मान्यता, आर्थिक प्रतिष्ठा र विदेशी लगानीका लागि चुनौतीको विषय पनि हो।

(Originally published at NepalKhabar: https://nepalkhabar.com/opinion/263026-2026-1-18-22-23-52)

Nepal races against time to fix money laundering deficiencies ahead of FATF review

Nepal is currently on the Financial Action Task Force (FATF) ‘grey list’ – officially, the ‘jurisdictions under increased monitoring’ – and has a deadline to implement its action plan by January 2027.
As Nepal is under continuous observation of the international evaluators, officials are scrambling to demonstrate that the country has made real progress in its fight against flow of dirty money.
Financial Action Task Force (FATF), the global watchdog that monitors illicit financial flows, has kept Nepal under ‘increased monitoring’ – a status popularly known as the grey list – after identifying serious gaps in the country’s enforcement and supervision systems.
However, authorities claim that Nepal is actively working with the FATF and the Asia Pacific Group (APG) to address its Anti-Money Laundering / Combating the Financing of Terrorism (AML/CFT) shortcomings. Prime Minister Sushila Karki, on Sunday, took stock of the situation with Finance Minister Rameshore Prasad Khanal, Nepal Rastra Bank Governor Bishwonath Poudel, and Department of Money-Laundering Investigation (DMLI).
Nepal is trying to address the issues raised by FATF and potentially exit the grey list is January 2027, albeit in a lousy pace because the global body to watch flow of dirty money’s decision this year, came with a clear message: Nepal’s laws look better on paper than they work in practice.
The message was: Nepal government does not walk the talk despite passing several regulations and setting up mechanisms to counter money laundering and the financing of terrorism but tangible results – like investigations, prosecutions, and confiscations – remain scarce, not due to successive governments’ inability but due to affiliation of governments with the infamous gangs and ‘middlemen’ like Therman Gun Gang.
The DMLI on Sunday reported the Prime Minister Karki that the department has frozen 1,600 ropanis of land within the Kathmandu Valley alone, in suspicious of Money Laundering.
However, the successive government’s lack of urgency in coming out of the grey list and its failure to meet the requirements by the deadline may result in Nepal being moved to the ‘black list’ – High-Risk Jurisdictions subject to a Call for Action – that will lead to severe economic sanctions and international financial isolation.
Though the erstwhile government led by Prime Minister KP Sharma Oli and his finance minister Bishnu Poudel, both, have claimed to bring Nepal out of the grey list, they have – in reality – been protecting the infamous Therman Gun Gang, which is allegedly involved in most of the money-laundering cases like illegal and suspicious transactions, by stationing their henchmen in the regulators.
The then KP Sharma Oli government has even withdrawn their cases from the Department of Money-Laundering Investigation (DMLI) and even Central Bank due to their affiliation with infamous gangs has also worsened the situation.
“We are responsible for investigation only,” said Director General of the DMLI Gajendra Thakur. But the department has always been under pressure not to investigate on suspicious transactions and therefore the department saw new head almost frequently.
Similarly, the investigation that the then Oli government withdrew against the infamous Thermal Gun Gang including Deepak Bhatta, the department seems at loss, whom to investigate and whom not. “The situation will put Nepal further in red-zone, as the FATF is closely monitoring the country,” according to those, who are privy to the investigation.
However, NRB and Finance Ministry are preparing the agendas to put forward the FATF during the review. Finance Minister Khanal and NRB Governor Poudel, on Sundy, appraised the Prime Minister.
The illicit flow of money is not only rampant among the ‘middlemen’ but also among the political leaders affiliated to the cooperatives sector.
Most of the cooperatives are run by the political leaders and their families, who are, despite cheating people’s money, getting protection from their respective parties, and law enforcement bodies are mere spectators.
FATF, on the contrary, has more focus on politically exposed persons (PEPs) because they are much powerful to cover the illicit money, earned with the help of their political clout.
According to officials familiar with Nepal’s preparation to face the FATF, the FATF wants proof that Nepal’s Financial Information Unit (FIU), law enforcement agencies, and regulators are not only coordinating among themselves but also not producing any measurable outcomes meaning taking action against the flow of dirty money. And it’s not a surprise as the regulatory capture by the infamous gang has made these law enforcement agencies and regulators impotent. “However, this time, FATF is neither interested in new laws or plans nor in paper works, it wants the tangible result,” according to the official, who is involved in the national response team. “FATF wants to see cases, numbers, and results."
In its last assessment, FATF pointed to persistent weaknesses: limited understanding of the country’s biggest money-laundering and terrorist-financing threats; weak supervision of high-risk sectors like cooperatives, casinos, and real-estate businesses; and a lack of visible action against illegal money transfer networks, popularly known as hundi.
The global watchdog also noted a shortage of prosecutions and asset recovery cases, raising concerns about Nepal’s ability to enforce its own laws.
Thus, Nepal will have to convince FATF and its regional counterpart, the Asia-Pacific Group on Money Laundering (APG), of which Nepal is a member, that Nepal has turned its commitment into action.
The face-to-face review will decide whether Nepal’s recent reforms and actions are credible enough to move it closer to removal from the grey list or continued deficiencies will prolong its stay.
Analysts warn that remaining on the list could damage Nepal’s reputation, discourage foreign investment, and make cross-border transactions more difficult. “Grey listing doesn’t shut Nepal out of the global system, but it raises the cost of doing business,” said a senior banker. “Every transaction gets extra scrutiny,” he said, adding that it affects business confidence.
Nepal is trying to get out of the grey list. Officials say the government has already begun working on a short-term action plan. It has prepared key priorities including publishing an updated National Risk Assessment (NRA) that identifies major threats, conducting risk-based inspections of banks and non-bank sectors, and launching visible enforcement against illegal hundi operations, and middlemen like Thermal Gun Gang.
The FIU under NRB is also expected to present detailed records of suspicious transaction reports (STR) enforcement actions, and ongoing investigations. In recent years, the STR has also been increasing, also due to regular and mandatory reporting system of the financial sector.
“But we need to prove effectiveness, not just intent,” according to a source, who is following the FATF process. “If we can show credible numbers, we have a good chance to convince FATF."
Experts also recommend that Nepal demonstrate at least one significant asset seizure or confiscation case before the review. “A clear example of money-laundering proceeds being traced and frozen”, they say, “would help signal that enforcement is moving from policy to practice."
They have also called for a high-level political statement reaffirming Nepal’s commitment to anti-money-laundering reforms before the FATF meeting. Coordination among the FIU, central bank, police, and prosecutors has been described as ‘critical,’ with several agencies already instructed to document all enforcement actions taken since the last evaluation.
However, insiders admit that bureaucratic inertia and overlapping mandates remain challenges. “Different agencies have done different works though in isolation, but what FATF wants is a coherent picture, a single narrative showing how Nepal’s system functions together."
Nepal’s response team has reportedly prepared a concise evidence dossier summarizing actions taken since the last review. If Nepal can demonstrate real progress – more inspections, visible enforcement, and actual asset recoveries – it could begin the process of exiting the grey list starting the next year.
But if Nepal fails to convince the evaluators, Nepal risks a prolonged stay under global watch list. For a country struggling to attract investment and rebuild economic confidence – also after the Gen Z movement on September 8 and 9 – that would be a setback it can hardly afford. After all the Gen Z movement had also called on ‘Corruption free Nepal’, transparency and accountability.

(Originally published at NepalKhabar: https://en.nepalkhabar.com/news/detail/16621/)

नेपाल फेरि कालोसूचीमा पर्ने जोखिम : मूल्यांकन प्रतिवेदन तयार गर्न एपीजीको टोली काठमाडौंमा

नेपाल फेरि पनि अन्तर्राष्ट्रिय सम्पत्ति शुद्धीकरणको कालोसूचीमा पर्ने जोखिम बढेको छ । सरकारले समयमा नै ऐन संशोधन गर्न नसक्दा नेपाल वित्तीय कारबाही कार्यदल (एफएटीएफ)को कालोसूचीमा पर्ने जोखिम बढेको हो ।

गत असारमा सुरु भएको नेपालको सम्पत्ति शुद्धीकरण निवारणसम्बन्धी मूल्यांकन प्रतिवेदन तयार गर्न एफएटीएफ अन्तर्गतको एसिया प्रशान्त समूह (एपीजी)को टोली काठमाडौंमा छ । टोलीले बिहीबार प्रधानमन्त्री तथा मन्त्रीपरिषद् कार्यालय अन्तर्गत सम्पती शुद्धीकरण हेर्ने निकायसँग छलफल समेत गरेको छ । सरकारले एपीजीको मूल्यांकनभन्दा अगाडि नै सम्पत्ति शुद्धीकरण निवारण ऐन अध्यादेशमार्फत भए पनि संशोधन गर्न नसके अन्तर्राष्ट्रिय सम्पत्ति शुद्धीकरणको कालोसूचीमा पर्ने भएको हो ।

सरकारले सम्पत्ति शुद्धीकरण निवारण गर्न भन्दै केही नेपाल ऐनमा संशोधन गर्दै नयाँ ऐन जारी गर्ने तयारी गरेको थियो । तर, प्रतिनिधिसभाबाट परित भएको उक्त विधेयक राष्ट्रियसभा अन्तगर्तको संसदीय समितिमा अड्किएको छ । हाल संसद्का दुवै सदन चुनावका कारण बन्द छ । 

एफएटीएफको सम्पत्ति शुद्धीकरणसम्बन्धी मूल्यांकन एपीजीको कालोसूचीमा प¥यो भने नेपालमा वैदशिक ऋण आउन रोकिनुका साथै विश्वका १ सय ७० वटा देशमा एलसीसमेत खोल्न नपाउने अवस्था बन्न सक्ने जानकारहरु बताउँछन् । कालोसूचीमा समावेश भए नेपालको पासपोर्टमाथि विशेष निगरानी हुने र नेपालीहरुको वैदेशिक गतिविधि नै रोकिन समेत सक्ने छ ।

नेपाल राष्ट्र बैंकका पूर्व गभर्नर चीरञ्जीवि नेपालले सम्पत्ति शुद्धीकरणका विषयमा नेपाल अप्ठ्यारो स्थितिमा रहेको बताए । उनले सम्पत्ति शुद्धीकरण एवं आतंकवादी क्रियाकलापमा वित्तीय लगानी निवारण गर्न नेपाल सरकारले बनाएका कानुनहरु संशोधन नहँुँदा एफएटीएफको मूल्यांकनमा कालोसूचीमा पर्ने खतरा बढेको बताए । सरकार सम्पत्ति शुद्धीकरणजस्तो संवेदजशिल विषयमा गम्भिर नदेखिएको पनि उनको गुनासो छ ।

त्यस्तै, पूर्व कानुन तथा संसदीय मामिला मन्त्री गोविन्दप्रसाद शर्मा कोइरालाले पनि सम्पत्ति शुद्धीकरण निवारण ऐन संशोधन नभए एफएटीएफको कालोसूचीमा पर्नसक्ने सम्भावना रहेको भन्दै नेपाल अहिले पनि कालो धनलाई सेतो बनाउने अर्थात् अवैधानिक रुपमा कमाएको धनलाई वैधानिक बनाउनसक्ने मुलुकमा परेको दाबी गरे । उनले उक्त ऐन स्वार्थ समूहको सिकार भएको पनि जानकारी दिए । 

सम्पत्ति शुद्धीकरण निवारण प्रणाली सुधार नभएको भन्दै नेपाल सन् २००९ देखि २०१४ सम्म कालोसूचीमा परेको थियो । एफएटीएफको टोलीले कर छलीलाई सम्पत्ति शुद्धीकरणसँग अनिवार्य जोड्दै आतंकवादी कार्य, भ्रष्टाचार र लागू औषधलाई विशेष ध्यान दिने गरी मापदण्ड तयार गरेको छ भने कोरोना कालपछि भर्चुअल करेन्सीलाई नयाँ अपराधका आयामको रुपमा हेरेको छ । सरकारी अधिकारीहरुका अनुसार नयाँ मापदण्डअनुसार नेपालले अझै कानुनमा ४० प्रतिशत समेट्न बाँकी छ । हाल संसद् नभएको अवस्थामा अब सरकारले तत्काल अध्यादेशमार्फत भए पनि सम्पत्ति शुद्धीकरणसम्बन्धी ऐन नियमहरु संशोधन गर्न जरुरी रहेको छ । अन्तर्राष्ट्रिय समुदायले गरेको एक अध्ययनअनुसार नेपालजस्ता अति कम विकसित मुलुकमा कुल गार्हस्थ्य उत्पादन (जीडिपी) को ७ देखि ८ प्रतिशतसम्म कालो धन हुने गरेको छ ।

सम्पत्ति शुद्धीकरण निवारण विरुद्धमा नेपालले अन्तर्राष्ट्रिय समुदायसँग गरेको प्रतिवद्धता अनुसारको प्रगति नभएका कारण नेपाल कालोसूचीमा पर्ने जोखिम बढेको हो । स्रोत नखुलेको सम्पत्तिलाई कानुनी दायरामा ल्याउने र त्यस्ता घटना निगरानी गर्ने निकाय कमजोर हुँदा नेपाल सम्पत्ति शुद्धीकरणमा कालोसूचीमा पर्ने जोखिम बढेको उच्च अधिकारीहरुको धारणा छ ।

नेपाल कालोसूचीमा पर्ने जोखिम कायमै : सम्पत्ति शुद्धीकरण निवारणमा प्रगति कमजोर

सम्पत्ति शुद्धीकरण निवारण विरुद्धमा नेपालले अन्तर्राष्ट्रिय समुदायसँग गरेको प्रतिवद्धता अनुसारको प्रगति नभएको कारण नेपाल फेरि कालोसूचीमा पर्ने जोखिम बढेको छ ।

स्रोत नखुलेको सम्पत्तिलाई कानूनी दायरामा ल्याउने र त्यस्ता घटना निगरानी गर्ने निकाय कमजोर हुँदा नेपाल सम्पत्ति शुद्धीकरणमा कालोसूचीमा पर्ने जोखिम बढेको उच्च अधिकारीहरुको धारणा छ ।

नेपालले आफना अन्तराष्ट्रिय वाचाअनुरुप गर्नुपर्ने सुधारका कार्यहरुको प्रगति कमजोर तथा ढिलाइले सम्पत्ति शुद्धीकरणको मामिलामा विश्वभरका मुलुकलाई निगरानी राख्ने फाइनान्सियल एक्सन टास्क फोर्स (एफएटीएफ) र यसको क्षेत्रीय संस्था एसिया प्रशान्त समूह (एपीजी) को अडिट र मूल्यांकनमा असफल हुने जोखिम रहेको अधिकारीहरुको भनाइ छ । नेपाल एफएटीएफ अन्तर्गतको एपीजीको समूहमा पर्दछ । गत असार सुरु भएको नेपालको सम्पूर्ण हुन १८ महिना लाग्छ । मूल्यांकनकै क्रममा एपीजीको टोली नेपालको स्थलगत अनुगमनमा २६ असोजमा काठमाडौं आउँदै छ । 

पहिलो चरणको स्थलगत भ्रमणपछि एपीजीले नेपाललाई प्रतिवेदनको मस्यौदा दिनेछ । त्यसपछि अन्तिम चरणको मूल्यांकन गर्न अर्को टोली मंसिरमा आउने जनाइएको छ । उक्त टोलीले सम्पत्ति शुद्धीकरण निवारण विरुद्ध नेपालले प्रगति नगरेको रिपोर्टिङ गरेमा नेपाल कालोसूचीको पर्ने जोखिम हुन्छ । एफएटीएफको टोली आउँदा नेपालले सम्पत्ति शुद्धीकरणको जोखिम क्षेत्र पहिचान गरी त्यसविरुद्ध गरेको गतिविधि उल्लेख हुनेछ । यसरी विभिन्न चरणमा भएका मूल्यांकनको अन्तिम प्रतिवेदन भने २०८० वैशाखमा नेपालले प्राप्त गर्नेछ ।

विगतमा नेपालको कमजोर अवस्था देखिएको थियो । त्यसैले यसपटक पनि सम्पत्ति शुद्धीकरण नियमनसम्बन्धी कमजोर कानुन तथा भएका कानुनको पनि पालना नभएका कारण नेपाल कालोसूचीको जोखिममा रहेको बुधबार प्रतिनिधिसभाको अर्थ समितिमा आयोजित छलफलमा कानुन मन्त्रालयका सचिव उदयराज सापकोटाले बताए । सम्पती शुद्धिकरणको विषयमा राजनीतिज्ञ तथा व्यवसायीलगायत नयाँ सोचमा जान नसकेको तथा परम्परागत सोचबाट नै अगाडि बढेको उनको भनाइ थियो । उनले सम्पती शुद्धिकरणको विषयमा अनुसन्धान गर्ने कर्मचारी नै डराउने गरेको पनि बताए । सचिव सापकोटाले नेपालमा क्यास अर्थतन्त्रबाट प्लाष्टिक अर्थतन्त्रमा नगएसम्म गाह्रो हुने  तथा अन्तराष्ट्रियरुपमा नै सम्पती शुद्धीकरण निवारणसम्बन्धि कानून विगतको भन्दा कडा आउने पनि बताए ।

यस्तै, प्रधानमन्त्री तथा मन्त्रिपरिषद् कार्यालयका कानुन सचिव धनराज ज्ञवालीले सम्पत्ति पनि सम्पत्ति शुद्धीकरणको नियमनको पाटोमा नेपाल कमजोर रहेको स्विकारे । उनले एफएटीएफ टोलीले प्राविधिक पक्ष र प्रभावकारिता पक्षको मूल्याङ्कन गर्ने भएकोले कानुन निर्माणसहित प्रभावकारी कार्यान्वयनमा पनि त्यत्तिकै ध्यान दिनुपर्ने बताए । त्यसैले सम्पती शुद्धिकरणको लागि सरकारले नेपाल ऐनमा चार वटा ऐन संशोधन गर्न लागेको छ, उनले भने, सम्पती शुद्धिकरण ऐनमा ४० वटा कसुरमा अनुसन्धान गर्ने निकायहरु फरक भएकाले तालमेल हुन नसकेका कारण ऐन संशोधन गर्न लागेको हो ।

उनले भ्रष्टाचारमा मुद्दा चलाएर अख्तियार अनुसन्धानले भ्रष्टाचार गरेको ठहर गरेर बिगो जरिवाना गरेपनि उसले भ्रष्टाचारजन्य सम्पती लगेर व्यापार व्यवसायमा लगानीको अनुसन्धान सम्पती शुद्धिकरण विभागले हुनुपर्ने अवस्थाको अन्त्य गर्नु पर्ने भन्दै सम्पती सम्वद्ध कसुरमा जुन निकायले अनुसन्धान गरेपनि सम्पती शुद्धिकरण अनुसन्धान त्यही बेला गर्नेगरी कानून परिर्माजन गर्न लागेको बताए । विश्वमा सम्पती शुद्धिकरणको ठाउँ भनेको क्यासिनो मानिने भएकाले नेपालको पर्यटन ऐन संशोधन गरि क्यासिनोको सञ्चालनको लागि लाइसेन्स लिने व्यवस्था परिर्वतन गर्ने पनि बताए । हुण्डी कारोबार सबैभन्दा जोखिमको क्षेत्र रहेको भन्दै उनले अपराध संहितमा नै संशोधन गरेर हुण्डीलाई अपराध सरह फौजदारी कसुर बनाएर लैजानेगरी ऐनमा संशोधन गर्न खोजेको पनि उनले जानकारी दिए । साथै, घरजग्गा कारोबारलाई पनि परम्परागत किन्ने र बेच्नेको सहमति भन्दा पनि रियल स्टेट कम्पनीमार्फत कारोबार गर्नुपर्ने कानूनी व्यवस्था गर्न लागेको बताए । 

समितिमा बोल्दै नेपाल राष्ट्र बैंकका गभर्नर महाप्रसाद अधिकारीले सम्पत्ति शुद्धीकरणका गतिविधिले मुलुकबाहिर समेत देशको छवि धुमिल हुन जाने तथा सन् २००९ देखि सन् २०१४ सम्म नेपाल कालोसूचीमा परे झैं अवस्था फेरि आउन सक्ने तर्फ सचेत गराए । त्यसबेला अमेरिकामा रहेको नेपालको बैंक खाता रोक्का भएको स्मरण गर्दै उनले सम्पती शुद्धिकरण तथा वित्तीय अपराधसम्बन्धि जोखिम अन्तर्राष्ट्रिय मुलुकलाई देखाउने भन्दा पनि आन्तरिक रुपमा सुधार गर्नुपर्ने बताए । सन् २००९ देखि २०१४ सम्म नेपाल अनुगमनमा परेका बेला संयुक्त राज्य अमेरिकास्थित नेपाली राजदुतावासको बैंक खाता खोल्न नाम चलेका अमेरिकी बैंकहरूले अस्वीकार गरेका थिए ।

नेपालमा भ्रष्टाचार र हुण्डी कारोबारको जोखिममा रहेको भन्दै सम्पती शुद्धिकरणको समस्या क्षणिक नभएर दीर्घकालिन रुपमा सरकारले  निराकरण गर्नुपर्ने उनले बताए ।  

नेपालमा सम्पत्ति शुद्धीकरण निवारण सम्बन्धी १५० भन्दा बढी कानुन र कानुनी व्यवस्थाहरु छन् । प्रत्यक्ष रूपमा ९ वटा नीतिगत र समन्वयकारी निकायले सम्पत्ति शुद्धीकरण निवारणमा काम गर्छन् । तर, ८५ हजार वटा रिपोर्टिङको दायित्व बोकेका संस्थाहरु भए तापनि सम्पत्ति शुद्धीकरण निवारणको मूल्यांकनमा नेपालको अवस्था कमजोर छ । 

जोखिमका क्षेत्र

• सहकारी, सेयर बजार, घर जग्गा, क्यासिनो, विदेशी विनिमय कारोबार हुने क्षेत्र, विप्रेषण सेवा प्रदायक, हुण्डी र रियल स्टेट,
• बैंकिङ, सहकारी, क्यासिनो र बहुमुल्य धातु तथा पत्थरको कारोबार हुने क्षेत्र,
• बीमा, पुँजी बजार, लेखा व्यवसाय र गैरनाफा मुलक संस्थाहरु, 
• बहुमुल्य धातु तथा पत्थर व्यवसाय गर्ने क्षेत्र

Government directs to keep detail record of customers buying precious metals of over Rs 1 million in a day

 The government has asked the bullion traders to record the identity of customers, who buy precious stones and metals worth more than Rs1 million in a day.

The government claimed to take the move – aiming at making trade transparent and discourage money laundering. Lately, the corruption money has been found to be used in buying precious stones and metals.

The Inland Revenue Department (IRD) – that has been named the regulator of the bullion sector two years ago – plans to implement the directive for a few bullion traders only at present. “The initial target is some 400 to 500 bullion traders – both wholesalers and distributors – and commercial banks," the department informed, adding that it has asked the bullion traders to comply with the directives.

According to the anti-money laundering law – that has been brought two years ago – traders can be subject to a penalty of upto Rs 10 million for failing to abide by the directive. 

The bullion traders have not been reporting the trading of over Rs 1 million of precious stones and metals, though the Money Laundering Prevention Act categorises bullion traders as reporting entities. They need to record – details of customers, who buy precious metals worth over Rs 1 million – and report suspicious transactions to designated authorities, the Act reads.

As per the directive, bullion traders will have to submit a report about any transactions above Rs1 million by a customer in a day to the Financial Information Unit (FIU) – under the central bank – within 15 days of suspicious transaction. In case of suspicious transactions, the bullion trader should submit a report about it to the FIU within three days, the directives reads, “While submitting such a report, the bullion trader should submit the report in a format prescribed in the directive.”

The government’s recent National Risk Assessment Report has also said there is ‘Medium’ risk of money launderers through the bullion market. The bullion traders neither operate with minimum regulations nor are aware of their AML/CFT obligations increasing the risk of anti money laundering, the report reads, adding that Nepal needs to prepare ahead of the planned evaluation of Nepal’s performance against money laundering and terrorism financing by Asia Pacific Group (APG) – under the Financial Action Task Force (FATF) – in June 2021 on money laundering, fraudulent and smuggling activities.

The government has yet to prepare laws and implement the Acts and regulations that it had brought after the last evaluation of Nepal by the APG.

The new directive also requires bullion traders to maintain updated records on ‘politically exposed persons’ (PEPs), who are suspected to channelise their illegal earnings through businessmen. The transactions by PEPs are considered risky also because they are often found indulge in corrupt activities by misusing their positions.

“Bullion traders need to ensure that the PEPs and their family members are properly identified through documents from credible sources,” the directive reads.

According to the Money Laundering Prevention Act, PEPS range from rural municipality vice-chairpersons to the president and senior bureaucrats. “A trader of precious metals needs to develop a risk management system to identify PEPS and also make effort to find the source of funds,” the directive reads, adding that such enhanced due diligence should also be implemented in the case of those who are found involved in suspicious transactions like those who purchase precious metals on a large scale and unusual ways. “If someone buys precious metals on the behalf of others, a bullion trader needs to identify the real customer.”

But the bullion traders say that it is difficult for them to identify PEPs, though they can seek the identification of persons, who buy precious stones and metals above Rs 1 million in a day. 

Banks must maintain a database of high-profile, high-risk customers

The banks needs to maintain an additional database of ‘high-profile’ and ‘high-risk’ clients to help the government track the flow of dirty money, according to a revised directives issued by the central bank.
According to the new move, all the banks will need to ensure that ‘high-profile’ and ‘high-risk’ clients employ only legitimate sources of income for transactions, which will be monitored for money laundering and other suspicious transactions.
According to the anti-money laundering law, high-profile clients include politically exposed persons (PEPs) ranging from Rural Municipality vice-chairpersons and bureaucrats above secretary level to the central leaders of political parties up to the President, whereas high-risk clients include people with criminal backgrounds, those that the banks consider prone to corruption, those involved in the sale and purchase of commodities like gold, and those dealing in heavy cash transactions, and arms deal, apart from the human trafficking.
Until now, customers were required to make a self-declaration about the sources of income for any transactions above Rs 1 million and the objective of their transactions but the new rule makes it mandatory for the banks and financial institutions to either seek all documents from high-profile people about their transactions or develop an intelligence mechanism to confirm whether they had a legitimate income source for the transaction.
According to the Financial Information Unit (FIU) of the central bank, the measure has been introduced in line with the Money Laundering Prevention Act, which was brought according to Nepal’s international commitment to fight the flow of dirty money.
Nepal will have to be present in the mutual evaluation on compliance at the Asia-Pacific Group (APG) on Money Laundering – a regional cluster of the Financial Action Task Force (FATF) – in 2020-21. Nepal must comply with the FATF – the global anti-money laundering body – 40 plus nine recommendations on Anti-Money Laundering and Financing of Terrorism (AML/CFT) as the country’s international commitment.
The government agencies – apart from the central bank – have been introducing more stringent measures to control money laundering but the private sector fears that the government is intimidating them in the name of international commitment. The incumbent Prime Minister KP Sharma Oli has brought the Department of Money Laundering Investigation (DMLI) under his direct supervision.
The government has – in recommendation with FIU and DMLI – has prepared five-year strategy in its fight against the Anti-Money Laundering and Financing of Terrorism (AML/CFT).
But a recent self-evaluation of compliance conducted by the government has found to be deficient in most FATF recommendations including law-making and particularly law enforcement.
Nepal faces the risk of being blacklisted by the FATF, if the mutual evaluation shows more deficiencies. Blacking of FATF means it will create difficulties for Nepali banks to conduct international financial transactions, Nepali passengers have to pass through the red channels in the international airports as they are all suspected of involved in the flow of dirty money. Nepal will not get any foreign aid, assistance and direct investment as the country will lose its credibility in the international community.
The banks and financial institutions have been collecting details from customers perceived to be making suspicious transactions and reporting (STR) to the Financial Information Unit (FIU) that processes, analyses and disseminate financial information and intelligence on suspected money laundering and terrorist financing activities. The STR has also been increasing as the banks and financial institutions have been actively reporting the FIU.
But according to the new directive, BFIs should develop a specific mechanism, according to the international best practices, for enhanced customer due diligence and collect information about high-profile and suspicious customers. They need to collect details from the government and other agencies every year and update the list regularly, after conducting a risk-based analysis, according to the FIU. “The database will also include senior elected representatives from all three layers of the government, high-level government officials and those in other state bodies, and those convicted of corruption will be placed in the ‘high-risk’ category.”
Likewise, banks should prepare ‘red flag indicators’ – for people with high net worth – that indicate any suspicious transactions. “But the banks are free to determine, who constitute high net worth people,” the FIU informed, adding that internal and external auditors will monitor whether banks have AML/CFT systems that conduct risk-based analysis. “Auditors will look into whether banks have taken necessary AML/CFT measures with regard to transactions of politically exposed persons, high-risk countries, high-risk production, equipment, services and transactions.”
January 15, 2020, the banks will have to submit details about suspicious transactions above the threshold of Rs 1 million through the goAML software installed by the FIU. The goAML software – specifically designed by the United Nations Office of Drugs and Crime (UNODC) to meet the data collection, management, analysis, and statistical needs of Finance Intelligence Units – has been purchased by the FIU in 2014 and installed in 2018 to track the STR. The goAML is also a part of Nepal’s compliance to the FATF recommendation to fight the flow of dirty money.

Government plans new strategy to combat money laundering

The government has prepared National Strategy and Action Plan for Combating Money Laundering and Financing of Terrorism to combat money laundering and also to save the country from being black listed from the Financial Action Task Force (FATF) review meeting.
The government has introduced a new strategy to combat terrorism financing and money laundering with stringent provisions, informed a government official, who was in the team to prepare the strategy.
The FATF – an international inter-governmental organisation tasked with combating money laundering – will review Nepal’s progress in combating terrorism financing and money laundering in 2020-21, he said, adding that Nepal is though under the Asia Pacific Group (APG) on Money Laundering, which is a member of FATF. “As a member of the FATF’s Asia Pacific Group on Money Laundering, Nepal’s progress will be reviewed.”
As part of the Asia Pacific Group (APG) on Money Laundering, the official said that Nepal has managed to avoid being blacklisted so far but it faces a high risk due to slow progress and its non-committal approach to combating money laundering. If a country is blacklisted, all foreign financial institutions will stop conducting transactions with the country. Import and export will also be stopped, if any bank rejects transactions. “This strategy seeks to make all sectors equally responsible,” he said, adding that it has primarily added to the responsibility of banks and financial institutions, and the investigation body has been further empowered.
The government has brought the new strategy that allows for anyone accused of financial impropriety to be investigated for money laundering, which means any complaint registered with government agencies like the Commission for Investigation of Abuse of Authority (CIAA), Nepal Police, Department of Revenue Investigation (DRI), and the Department of Foreign Employment (DoFE) will automatically be up for investigation for money laundering.
Though, the incumbent Prime Minister KP Sharma Oli has brought the Department of Money Laundering Investigation under him – claiming to make it stronger, which the opposition blames to misuse the power – the new strategy will provide authority to the Nepal Police to investigate and file cases related to money laundering and terror financing. The strategy will be monitored by the Prime Minister’s Office (PMO) and the Cabinet. But it has created more confusion among government bodies also after the Department of Money Laundering Investigation was brought under the Prime Minister’s Office.
The strategy read that the Nepal Police will be upgraded with necessary skill sets to qualify it to coordinate with the Department of Money Laundering Investigation in probing such cases regarding investment in criminal activities. “Central Investigation Bureau (CIB) under the Nepal Police will be used to exchange information among all related departments,” it reads, adding that cases of severe nature and high risk will be investigated jointly.
The Department of Money Laundering Investigation, currently, is the sole agency to file cases regarding money laundering. Acording to the Money Laundering Prevention Act 2008, “in case the police or other departments want to investigate cases, they would need permission from the department.”
The new strategy, however, reads that this provision in the Money Laundering Prevention Act 2008 will be amended. The failure to amend Money Laundering Prevention Act 2008 has made it difficult to conduct important tasks relating to the prevention of money laundering. It is doubtful whether the current strategy will also be implemented.
Likewise, the strategy also reads that there will also be a mandatory provision for an individual to have only one account. “Transactions of above Rs 100,000 will be allowed only through digital accounting,” it reads, adding that any state financial transactions will be carried out via bank accounts.
There are also provisions to digitalise transactions and information through mobile apps.
Though, Nepal has still to do a lot before the review meeting to not again listed under grey zone, the strategy has prescribed plans to design a set of procedures related to money laundering that will be included in all public sector training manuals. “The government officials will also be required to sign a performance contract on eradicating money laundering, which will become a basis for their evaluation.”
The strategy also plans to bring all remittance-related activities under the surveillance of the central bank, which needs to maintain a list of remittance companies, company agents and branch agents.
Likewise, the Department of Foreign Employment should provide remittance orientation training before issuing labour permits to foreign employment seekers,” the strategy reads, adding that the Department of Foreign Employment, Foreign Ministry, the Non-Resident Nepali Association (NRNA) and their country organisations, and the Immigration Department should have their links on the website of central bank. “The government will also make it mandatory for all banks, financial institutions and remittance entrepreneurs that they ensure that their transactions are conducted through software.”
The strategy also aims at enforcing the use of software for Securities Board of Nepal (Sebon), the Employees' Provident Fund (EPF), Citizen Investment Trust (CIT) and all savings and financial cooperatives, which have their paid up capital exceeding Rs 100 million.
The purchase of house, land and valuable metals by non-financial professionals and entrepreneurs will be strictly monitored, reads the strategy that has listed new technology and non-profit sector as high risk areas. “Special regulatory surveillance will be arranged for businesses like currency price transfer, currency exchange, real estate and precious metals.”
The strategy also has a provision for signing treaties for mutual legal support – to help check the dirty money flow – and such treaties will be signed with at least two countries in a year.
Nepal – if failed to bring stringent measures to control flow of dirty money – will be blacklisted, thus has no option than to come up with a stricter strategy and implement it to avoid getting blacklisted. But the implementation part still remains a challenge as according to the FATF, the most vulnerable group – Politically Influential People (PIP) – that is responsible to bring the law and implement – have the most black money earned through the corruption, tax evasion, commission and red tape.
According to former finance minister Shanta Raj Subedi, “Nepal has no option but to implement the strategy to avoid being blacklisted.”
Though Nepal has escaped blacklisting by the FATF, it has failed to come up with workable mechanisms to convince the international agency that it is committed to implementing the existing provisions to stop finance terrorism and money laundering.
Nepal has already been blacklisted once, and if this time the country is blacklisted again, it will be not only damaging to the economy but also very difficult to get out of the list as it has not been serious in implementation of its international commitments. 

Sebon brings new AML guidelines

The capital market regulator has introduced new guidelines on anti-money laundering (AML) listing out five dozen transactions of companies in the securities and commodities market that should be notified to the Financial Information Unit (FIU) of the central bank as suspicious transactions.
The new guidelines on prevention of money laundering and terrorist financing released by the Securities Board of Nepal (Sebon) today requires companies – licensed by the capital market regulator – that are termed as reporting entities and include stock brokerage firms, merchant bankers and stock and commodity exchange company, to flag any suspicious transaction to the FIU for further investigation.
The suspicious transactions range from investment that seems to be made from tax-evaded money to discrepancies in the address of any client and transactions from another person's name, according to the guidelines. “The reporting agencies should send suspicious transaction report to the FIU within three days,” the new guidelines reads, adding that it aims at implementing the Asset (Money) Laundering Prevention Act, 2008 and prevent and discourage the money and asset laundering and financing of terrorist activities through the abuse of the securities and commodity market. “Any transaction that seems unusual in terms of size, value, nature and source, should be reported.”
The reporting agencies are also required to send each transaction report to the FIU above the value of Rs 1 million, apart from the suspicious transaction reports, the new guidelines read.
According to the new guidelines, reporting entities in the securities and commodities market are also required to categorise their clients under high-risk, risk and general risk for further scrutiny and reporting of their transactions. “Some of those who fall under high-risk are the clients who carry out transactions without coming at the fore, non-residential clients, high ranking politicians, business persons and officials in social and financial sectors; and transactions carried out with firms, companies and organisations who do not have their regulators,” it further reads, adding that the FIU forwards the cases to the respective law enforcement and investigation agencies for further investigation after analyzing and assessing the information based on the information and reports from the reporting entities.
The capital market regulator has also warned that those reporting agencies who fail to comply with the anti-money laundering laws, regulations and guidelines will have to face stern action. “Those violating the provision risks facing the fine up to Rs 50 million and cancellation of the license,” the guidelines further reads.
Nepal is currently under scanner of the global agency that looks after the AML/CFT as the Financial Action task Force (FATF) will review the country’s status in 2020. Almost all the regulatory authorities have been very serious on implementing the anti money laundering law to keep Nepal out of the black list of the FATF.

Nepal still fears blacklisting next year

Nepal still fears blacklisting next year from the international agency that checks the flow of dirty money.
The Asia Pacific Group (APG) of the Financial Action Task Force (FATF) will evaluate Nepal by the end of 2020 to ensure implementation of its international commitments in fight against the flow of dirty money.
The APG – by the end of 2020 – will be looking for concrete action by Nepal in implementing the 40 suggestions and 11 results that it committed in 2010. The evaluation next year will focus less on laws and more on implementation and results, which remains weak due to long political transition.
As Nepal has no records of wealth of any individual, neither Money Laundering Investigation Department nor the government can figure out wealth with any individual is legal or not. The business people have been, thus, asking the government to let them declare their wealth once, so that the government can have a record of individuals before taking any legal action, on illegal earnings.
Likewise, the Money Laundering Investigation Department – that was set up as a commitment in 2010 evaluation and also to escape the black listing then – also lacks coordination, though Financial Investigation Unit (FIU) under the central bank coordinates and shares suspicious transaction report (STR) with it.
According to the department insiders, the government has also been finding it difficult to implement the law because so many of them enjoy political protection. “The politicians and high ranking officials will not be able to show source of their wealth, if the Money Laundering Prevention Act is implemented,” they said, adding that the legislation was brought and department was created to escape the blacklisting from FATF only, not to implement it. “Implementation of the Act was never a priority for the government as the government is knee deep in corruption.”
Earlier too Nepal was put under an international monitoring list in February 2010 by the APG working committee after it found that Nepal’s attempts to control money laundering were not effective enough. Nepal – to fulfill its international commitment in fight against the flow of dirty money – and also to escape the blacklisting passed the Anti-Money Laundering legislation and established a Money Laundering Investigation Department. The department, however, has been not able to function due to pressure from the higher political leadership, who are flushed with money from ‘commission’ and ‘corruption’. The FATF has identified a politically exposed person (PEP) as a high risk person in the fight against the flow of dirty money. The PEP is an individual, who is or has been entrusted with a prominent function, many of whom hold positions that can be abused for the purpose of laundering illicit funds or other predicate offences such as corruption or bribery. Because of the risks associated with PEPs, the FATF Recommendations require the application of additional AML/CFT measures to business relationships with PEPs.
Established in 1999, FATF tracks down and stop money laundering and funding of terrorist activities around the world. Nepal – a member of FATF associate organisation APG that investigates regional member countries – had passed the Money Laundering Prevention Act in 2008 under pressure, but took 2 years to implement it. Though Nepal brought legislation to escape the black listing in 2010, it does not seem to have made much progress since then in actually preventing tax evasion and money laundering. But the APG will be investigating on its own next year, which is going to create troubles to Nepal. The APG evaluation committee – under the FATF – meets twice a year to review the progress of the member countries and jurisdictions. On June 21, next week, the APG evaluation committee will meet but Nepal’s evaluation will be done in the second meeting of 2020, which will decide the fate of the country.
FATF has, currently, blacklisted Iran and North Korea, whereas 12 countries, including Sri Lanka, Pakistan, Cambodia, Ethiopia, and Syria, are on its international monitoring list.

कांग्रेसकै एजेन्डामा सबै दल आइपुगेका छन् : महत

नेपाली कांग्रेसका नेता डा. रामशरण महतले पटक–पटक अर्थ मन्त्रालयको बागडोर सम्हालिसका छन् । विश्वकै उत्कृष्ट अर्थमन्त्रीका रूपमा समेत सम्मानित भइसकेका डा. महतले अघि सारेका कतिपय नीतिको वामपन्थी दलहरूले आलोचना गर्ने गर्दछन् । तर, महत अहिले आफ्ना आलोचकसमेत कांग्रेसले अघि सारेको एजेन्डामा आइपुगेको तर्क गर्छन् । लोकप्रियताका नाममा सरकार छाड्ने बेलामा राज्यको ढुकुटी बाँड्ने प्रतिस्पर्धा देशले धान्न नसक्ने महत बताउँछन् । योगदानमा आधारित सामाजिक सुरक्षा हुनुपर्ने बताउने महत देशको ढुकुटी बलियो बनाउनुपर्नेमा जोड दिन्छन् । पूर्व अर्थमन्त्री, कांग्रेस नेता उनै डा. महतसँग निर्वाचनमा कांग्रेसको पराजय, कांग्रेसले बोकेको अर्थनीति र पछिल्लो समय चर्चामा रहेका अर्थतन्त्रलाई प्रभाव पार्ने केही सन्दर्भका बारेमा गरेको कुराकानीको सार:

प्रदेश र प्रतिनिधिसभा निर्वाचन पराजयको समीक्षा नै नेपाली कांग्रेसमा हुन सकेको छैन । योे लज्जास्पद हारको कारण के ठान्नुहुन्छ ?
कांग्रेस कमजोर हुनुको मुख्य कारण दुई वटा ठूला वामपन्थी दलहरू मिल्नु नै हो । समानुपातिकमा कांग्रेसलाई प्राप्त मतमा खासै अन्तर आएको छैन । तर, केही मत घट्यो । पहिला हामी पहिलो पार्टी थियौं । अहिले दोस्रो पार्टी भयौं । समग्रमा अहिले हारको कारणचाहीँ एमाले र माओवादी केन्द्र एक ठाउँमा आउनु नै हो । अर्को कुरा हाम्रो संगठनात्मक कमजोरीहरू छन् । पार्टीमा गुटबन्दी बढी भयो । संगठनात्मक संरचना उपयुक्त ढंगले परिचालित हुन सकेनन् । यसमा नेतृत्वको कमजोरी हो । उम्मेदवार छनोट गर्दा नेतृत्वले गुटभन्दा माथी उठेर योग्यताका आधारमा छान्ने प्रवृत्ति देखिएन । कतिपय ठाउँमा टीकट पाउनुपर्ने राजनीतिक कार्यकर्ताले नै पाएनन् । कतिपय ठाउँमा गलत ढंगले टकट वितरण भयो । सरकारमा हुँदा केही फाइदा हुनसक्थे । तर, सरकारमा रहेर गरेका केही निर्णयले कांग्रेसको सार्वजनिक छबि खस्कियो । केही व्यवस्थापकीय कमजोरी, संगठनात्मक कमजोरी, नेतृत्वको कमजोरी र वामपन्थीहरूको एकतालगायतका कारणले निर्वाचनमा हामीले पराजय बेहोर्नुपर्यो ।


१३औं महाधिवेशनपछि कांग्रेसको नेतृत्वको लिगेसी ‘कोइराला’ परिवारबाट बाहिर शेरबहादुर देउवामा पुग्यो । तर, अहिले देउवा पनि असफल हुनुभयो भनेर पार्टीभित्र कुरा उठेको छ । ‘लिगेसी’वाला नेतृत्व नै रहँदा कांग्रेस बलियो हुनेरहेछ भन्नेहरू पनि छन् नि ?
नयाँ नेतृत्वबाट धेरै अपेक्षा थियो । सुशील कोइरालाको निधनपछि कोइरालाहरूमा नेतृत्व लिनसक्ने कोही छँदा पनि थिएनन् । कोइराला र शेरबहादुर देउवाबीचमा प्रतिस्पर्धा हुँदै आएको थियो । पछि रामचन्द्र पौडेल र शेरबहादुर देउवाबीच प्रतिस्पर्धा भयो । सुशील कोइरालाको निधनपछि केही कोइराला समर्थक नै देउवालाई सहयोग गर्न पुगे । त्यसकारण १३ औं महाधिवेशनबाट देउवा सभापति बन्नुभयो । कोइराला परिवारकै नेतृत्व हुनुपर्छ भन्ने पनि छैन । कृष्णप्रसाद भट्टराई र सुवर्ण शमशेर वीपी कोइराला परिवारभन्दा बाहिरकै हुनुहुन्थ्यो । सँधै कोइराला भन्ने पनि होइन । यद्यपी कोइराला परिवारको एउटा लिगेसी छ । त्यसको आफ्नै महत्व पनि छ । तर, नेतृत्व सँधै कोइराला परिवारकै हुनुपर्छ भन्ने छैन । जसले नेतृत्व लिन्छ, उसले क्षमता प्रदर्शन गर्नुप¥यो । सार्वजनिक छवि पनि राम्रो बनाउन सक्नुपर्यो । लोकप्रियता पनि हासिल गर्न सक्नुपर्यो । संगठन परिचालन गर्नसक्ने क्षमता, सरकारमा बस्दा कुशल नेतृत्व चाहियो । जो सभापति भए पनि नेतृत्वमा हुनुपर्ने सबै गुणहरू देखाउनुपर्यो । त्यो कुरा नदेखिएपछि संगठनलाई त असर पर्छ नै ।

निर्वाचनपछि २ दिन केन्द्रीय समिति बैठक बस्यो । निर्वाचनको समीक्षा पनि भएन, महासमिति बैठकको सुनिश्चितता पनि भएन । कांग्रेसमा कमजोरी समीक्षा गर्ने र भावी दिशा तय गर्न कुनै जाँगर देखिन नि, होइन ?
निर्वाचनको समीक्षा बैठकमा भएन । हामीले केन्द्रीय समिति बैठक बोलाउनुपर्छ भनेर दबाब दिँदै आएका थियौं । बैठक त बस्यो तर निर्वाचनको समीक्षा हुन सकेन । निर्वाचनको समीक्षा नगर्ने गरी राष्ट्रियसभाका बारेमा र संसदीय बोर्डका विषयमा आएका विवादका बारेमा छलफल गर्ने सहमति भएपछि नै केन्द्रीय समिति बैठक बोलाइएको थियो । त्यति हुँदाहुँदै पनि केही साथीका विचार निर्वाचनका विषयमा आए । तर, मूल विषय त्यो छँदै थिएन । निर्वाचनको साँच्चै समीक्षाका लागि जिल्ला–जिल्लाबाट प्रतिवेदन मागिएको छ । विभिन क्षेत्रबाट प्रतिवेदन मागिएको छ । ती सबको छलफल कार्यसमितिमा हुन्छ र त्यसपछि महासमिति बैठक हुन्छ । महासमिसित बैठकमा निर्वाचनको समीक्षा र संविधान संशोधनलगायतका बारेमा छलफल हुन्छ । त्यसपछि विशेष महाधिवेशन भन्नुस् अथवा अर्ली महाधिवेशन भन्नुस् । ४ वर्ष छ महाधिवेशनको समय । ४ वर्ष नपुग्दै महाधिवेशन गर्ने कि पुगेपछि गर्ने ती कुरा महासमिति बैठकले निर्णय गर्छ ।

कांग्रेसमा अहिलेको शीर्ष नेतृत्व चलेन भन्ने व्यापक चर्चा भइरहँदा डा. महतलाई १४औं महाधिवेशनमा पुग्दा कांग्रेस नेतृत्व लिने ठाउँमा देख्न सकिने सम्भावना कत्तिको छ ?
मैले कहिले पनि यही हुनुपर्छ भनेर महत्वाकांक्षा देखाएको छैन । यद्यपी पटक–पटक मैले अर्थमन्त्रीको, परराष्ट्रमन्त्रीको जिम्मेवारी पाएँ । मलाई मन्त्री बनाउनुस् भनेर मैले कसैलाई भनिनँ । मेरो आवश्यकता ठानेर पार्टीले निर्णय गर्यो । मैले खुशीसाथ त्यो जिम्मेवारी पूरा गरेँ । नेतृत्वको कुरा पनि आवश्यक परेको खण्डमा म तयार छु । यद्यपी नयाँ नेतृत्वको आवश्यकता टड्कारो देखिएको छ । तर, म आफैंले महत्वाकांक्षा राखेर नेतृत्व लिइहाल्छु भनेर होमिएको अवस्था छैन । तर, आवश्यक परेको अवस्थामा म पछि हट्ने अवस्थामा पनि छैन । धेरै साथीहरूले तपाईं अगाडि बढ्नुस् भनेर मलाई भनिरहेको अवस्था छ । उपयुक्त समय आएपछि विचार गर्नेछु ।

अहिलेको असफलतामा नेतृत्वसँगै कांग्रेसले लिँदै आएका नीतिमा पनि सुधारको आवश्यकता होला नि ? अहिले त कांग्रेस एजेण्डाविहीन भएजस्तो पनि देखिन्छ ।
कांग्रेस एजेण्डाविहीन कहिले पनि छैन । कांग्रेस अहिले पनि राष्टियता, प्रजातन्त्र, समाजवादको एजेण्डामा छ । अहिले सबै कांग्रेसले लिएको यही एजेन्डाकै पछि लागेका छन् । हिजो लोकतन्त्रमा विश्वास गर्ने अरु दलहरू त थिएनन् । एकदलीय साम्यवादमा विश्वास गर्ने दलहरू थिए । निर्दलमा विश्वास गर्ने पञ्चेहरू थिए । बहुदलमा विश्वास गर्ने, संसदीय व्यवस्थामा विश्वास गर्ने त कांग्रेसबाहेक कोही पनि थिएन । अहिले त सबै राजनीतिक दलहरू कांग्रेसले भनेकै व्यवस्थामा आएका छन् । साम्यवाद भन्नेहरू पनि अब समाजवाद भन्छन् ।

वामपन्थी दलहरूले कांग्रेस पूँँजीवादी पार्टी भएको भन्दै समाजवाद आफ्नो एजेन्डा भनिरहेका छन् नि ?
समाजवादको परिभाषा के हो ? यसलाई पनि विभिन्न मनिसले फरक ढंगले व्याख्या गरेका छन् । राजनीतिक र आर्थिक एजेन्डामा देश नै अहिले कांग्रेसको एजेन्डामा छ । समाजवादको मूल अर्थ भनेको सामाजिक न्याय हो । लोककल्याणकारी राज्य हो । त्यसको एजेन्डामा त सबै छन् । कांग्रेस पनि त्यही एजेन्डामा छ, अरु पनि त्यसैमा छन् । कांग्रेसले समाजवादी लक्ष्य हासिल गर्न आर्थिक उदारीकरणको नीति ल्याएको हो । हिजो त्यसका विरोधीहरू पनि अहिले त्यही एजेन्डामा लागेका छन् । अहिले विदेशी लगानीको विपरित कोही पनि छैन । निजी क्षेत्रलाई प्रोत्साहन गर्नुहुन्न भन्ने पक्षमा कोही पनि छैन । हामीले हिजो विरोध र कतिपयकोे आलोचनाको बाबजुद पनि जुन आर्थिक सुधार र आर्थिक उदारीकणको नीति लिऔं अहिले सबै राजनीति शक्ति त्यही नीतिका पछाडि आएका छन् । कांग्रेस एजेण्डाविहीन छ भन्ने कुरा त हुँदै होइन । कांग्रसले अगाडि सारेकै दर्शनमा आज अरु राजनीतिक शक्ति पनि लागेका छन् । कांग्रेसले लिएका आर्थिक रूपान्तरण र समृद्धिको एजेन्डामा हिजोका आलोचकहरू पनि पछि लागेका छन् । अहिले कांग्रेसकै दर्शन र मूल एजेन्डामा देश अघि बढेको छ । आन्तरिक पार्टी सञ्चालनका सम्बन्धमा सानातिना रणनीतिक एजेन्डा हुन्छन् । ती एजेन्डामा कांग्रेसले केही सुधार गर्न आवश्यक छ । महासमिति बैठकले ती कुरामा वृहत् छलफल गरेर सुधारको बाटो देखाउनेछ ।

अर्थतन्त्रको कुरा गर्दा भारत र चीन दुई ठूला अर्थतन्त्र भएका मुलुकहरू छिमेकमा छन् । चीनको अर्थतन्त्रलाई समाजवादी अर्थतन्त्रका रूपमा उदाहरण दिँदै व्यवहारमा जे भए पनि दस्तावेजहरूमा, भाषणहरूमा कम्युनिस्टहरू खुला बजार अर्थतन्त्रको विपक्षमै देखिन्छन् नि ?
समाजवाद त्यस्तो टोपी भएको छ जसले जुन आकारमा पनि लगाउन सक्छ भनेर बर्नाड शा ले भनेका छन् । किनभने सबैले आफ्नै ढंगले समाजवादको परिभाषा गरेका छन् । हामी लोकतान्त्रिक समाजवादी हौं । किनभने हामी लोकतान्त्रिक बाटोबाट, संसदीय व्यवस्थाका माध्यमबाट, विधिअनुसार, निर्वाचनबाट समाजवाद ल्याउने भन्छौं । कम्युनिस्टहरू वर्गसंघर्षबाट समाजवाद ल्याउने भन्छन् । हिजो राज्य नियन्त्रित समाजवाद थियो । संसारभर असफल भयो । बेलायतमा कन्जरभेटिभ पार्टीले १८ वर्ष सत्ता चलाएपछि त्यतिञ्जेल लेवर पार्टी बाहिरै रह्यो । त्यसपछि टोनी ब्लेयरले लेबर पार्टीको विधानको धारा ४ संशोधन गरे । जहाँ अब राष्ट्रियकरण होइन ‘मार्केट मेकानिजम’ भने । त्यसपछि लगातार तीन पटक लेबर पार्टीले चुनाव जित्यो । जवाहरलाल नेहरू समाजवादी थिए । उनको पालोमा धेरै औद्योगिकरण भयो । हिन्दुस्तानमा इन्दिरा गान्धीले राष्ट्रियकरणको अभियान शुरु गरिन् । इन्दिरा गान्धी सत्तामा आएपछि राष्ट्रियकरण गर्ने, गरिबी हटाउने, समाजवाद ल्याउने भनिन् । भारतीय राष्ट्रिय कांग्रेसको विधानमा पनि राष्ट्रियकरणको माध्यमबाट समाजवाद ल्याउने भनेर राखियो । पछि उनकै छोराले त्यसलाई हटाए । राष्ट्रियकरण वा राज्य नियन्त्रित समाजवादले गरिबी हटाउने होइन बढाउँदो रहेछ, देश टाट पल्टाउँदोरहेछ । हिन्दूस्तान अन्तर्राष्ट्रिय ऋण तिर्न नसक्ने अवस्थामा पुग्यो । किनभने २ हप्ताभन्दा बढी आयात धान्न सक्ने विदेशी मुद्रा सञ्चिती नभएको अवस्थामा पुग्यो । नरसिंह राव प्रधानमन्त्री भएर आउँदा त्यो अवस्था थियो । कूल विदेशी सञ्चितिले २ हप्ताको आयातलाई धान्न सक्ने अवस्था पनि भएन । त्यो अवस्थामा अन्तर्राष्ट्रिय मुद्रा कोषबाट ऋण लिन खोज्दा ‘रिजर्भ बैंक अफ इन्डिया’ को सुन धितो राखेर बल्लबल्ल ऋण लिएर हिजोको राष्ट्रियकरणको समाजवाद, सामाजिकीकरणको समाजवादले देश टाट पल्टियो भनेर व्यापक प्रकारको सुधारको नीति लिइयो । सुधारवादी पी चिदम्बरमहरू आए । रातारात, महिनौं गृहकार्य गरेर उदारीकरण र विदेशी लगानीलाई प्रबद्र्धन गर्ने, एक्सचेन्ज रेट सुधार गर्ने, निजी पूँजीलाई नियन्त्रण गर्ने सम्पूर्ण नियमलाई खारेज गरेर उनीहरू खुला अर्थतन्त्रतिर गए । चीनले त्यो भन्दा १० वर्ष अगाडि नै यो नीति अपनाइसकेको थियो । जसले गर्दा चीन विश्वकै छिटो आर्थिक वृद्धि हासिल गर्ने अर्थतन्त्र भइसकेको थियो । भारत धेरै पछि प¥यो र त्यहाँका समाजवादी पार्टीले पनि बजारमुखी अर्थनीति लिए । उत्पादनको साधनको सामाजिकीकरण गर्ने भनेर नारायणमान बिजुक्छेजी अहिले पनि भन्दै हुनुहुन्छ । राष्ट्रियकरण गर्ने, सामाजिकीकरण गर्ने भन्ने कुरा चीनमा त असफल भइसक्यो, सोभियत युनियनमा असफल भइसक्यो । अरु समाजवादी मुलुकमा असफल भइसक्यो । त्यसकारण मार्केट मेकानिजमले समृद्धि सिर्जना गर्छ । त्यो समृद्धिलाई गरिबको पक्षमा, लोककल्याणको पक्षमा लैजाने प्रजातान्त्रिक पद्धतिबाट समाजावदी लक्ष्य हासिल गर्ने अहिलेके बाटो हो । यसलाई कतिपयले नबुझेर राज्यकेन्द्रित समाजवाद भनिरहेका छन् । त्यो हल्लामा लागेका छन् । १ सय वर्ष अगाडि गरिएको समाजवादकै परिभाषामा अहिले पनि कतिपय देखिन्छन् । त्यतिबेला पुँजीवादले धेरै शोषण गथ्र्यो । तर, अहिले पूँजीवादको स्वरूप पनि बदलिँदै गयो । मताधिकार सबैले पाइसकेपछि पूँजीवादको स्वरूप नै बदलियो । श्रमिकका कानुन बन्न थाले, न्यूनतम पारिश्रमिकको कानुन बन्न थाले । सामूहिक सौदाबाजीको कानुन बन्न थाले । हड्तालको हकको कानुन बन्न थाले । यी सवले गर्दा नै हिजोको शोषण गर्ने पुँजीवादको त्यो रूप समाप्त भयो । नाफालाई फोहोरी शब्द भन्थे । अहिले नाफा फोहोरी शब्द होइन । नाफा नभई राज्यको ढुकुटी नभरिने रहेछ । त्यो ढुकुटीबाट गरिबको पक्षमा, लोककल्याणको पक्षमा, ग्रामीण विकासको पक्षमा, विकासको पक्षमा काम गर्दै समाजवादी लक्ष्य हासिल गर्ने हो । कांग्रेसले यही बाटो अंगालेको हो । अहिले सबै यही बाटोमा छन् ।

तपाईं सधैं सामाजिक सुरक्षा भत्ताका विषयमा सकारात्मक देखिनुहुन्न भनेर आलोचना हुने गरेको छ । एमालेले अर्थतन्त्रलाई वितरणमुखी बनायो भनेर तपाईंले भन्दै पनि आउनुभएको छ । अहिले कांग्रेसकै सरकारले ज्येष्ठ नागरिक भत्ता दिने उमेर ६५ वर्षमा झारेको छ । यसलाई कसरी लिनुभएको छ ?
वितरणमुखी हुनु नराम्रो कुरा होइन । असक्षम, असहाय, लोपोन्मुख, काम गर्ने कोही पनि छैन भने उनीहरूका लागि वितरण पनि गर्नुपर्छ । तर, सेलेक्टिभ हुनुपर्छ । अहिले त्यस्तो छैन । अर्थ व्यवस्थाले कतिसम्म धान्न सक्छ त्यो पनि मतलव गरिएको छैन । धनीले पनि ज्येष्ठ नागरिक भत्ता पाउने, गरिबले पनि पाउने । कार चढ्नेले पनि ज्येष्ठ नागरिक भत्ता पाउने पद्धतीमा हामी गयौं । त्यसकारण असहाय, अपांगता भएका, आम्दानीका स्रोत नभएका व्यक्तिलाई राज्यले संरक्षण गर्न सकेन । त्यसको पक्षमा जानुपथ्र्यो । वितरणभन्दा पहिला त राज्यको ढुकुटी बढाउनुप¥यो । राज्यको ढुकुटी बढाउन हामीले जेजे कदम लियौं । मेरै पालामा पनि केही वितरणमुखी कार्यक्रम ल्याइएको थियो । विधवा भत्ता, दलितका बालबालिकालाई विद्यालय जान प्रोत्साहन मिलोस् भनेर सहुलियत दिने, महिला शिक्षा कम भएका १५ जिल्लामा प्रोत्साहनका लागि भत्ता दिने काम मेरै पालामा भए । राज्यको क्षमताभित्र रहेर यस्ता गर्नैपर्ने क्षेत्रमा वितरण भएका हुन् । तर, जथाभावी वर्षैपिच्छे बढाउँदै जाँदा राज्यले धान्न सक्ने अवस्था छैन ।
राज्यको ढुकुटीलाई प्रतिकूल असर पारेर आफ्नो र पार्टीको क्षणिक लोकप्रियताका लागि ढुकुटी उडाउने र अनुत्पादक क्षेत्रमा खर्च गर्नु ठीक होइन । राज्यको सिमामा बस्नुपर्छ । आम्दानीको यति प्रतिशतसम्म हामीले सामाजिक सुरक्षामा खर्च गर्ने भन्ने सिमा निर्धारण गर्नुपर्छ । हुनेखानेका लागि योगदानमा आधारित सामाजिक सुरक्षा हुनुपर्छ । संसारभरको अभ्यास यही हो । हाम्रो जस्तो विना योगदान समाज सामाजिक सुरक्षा संसारमा कहीँ पनि छैन । दूरगामी दृष्टिकोण भएको नेतृत्वको अभाव विगतको सरकारमा पनि देखिएको थियो । अहिले पनि देखिएको छ । विगतमा मुलुकको ढुकुटी भर्ने काम कांग्रेसले गरेको छ । कांग्रेसले भरेको ढुकुटी हामीले किन नउडाउने भनेर एमाले त्यतिबेला लाग्यो । सरकार छोड्ने बेलामा । प्रचण्डले नेतृत्व लिनुभन्दा १/२ हप्ता अगाडि केपी ओलीले ज्येष्ठ नागरिक भत्ता दोब्बर पार्नुभएको हो । पहिला पनि एमालेले ९ महिने सरकारकै पालामा ज्येष्ठ नागरिक भत्ता दिने निर्णय गरेको हो । आफू जाने बेलामा जे हुन्छ होस् भनेर हचुवामा लोकप्रिय कार्यक्रम ल्याउने प्रतिस्पर्धा उचित होइन । अहिले शेरबहादुर देउवाले पनि त्यही गर्नुभएको छ । यसरी राज्यको क्षमताभन्दा बाहिर गएर जथाभावी बढाउँदै जाँदा राज्यले धान्न सक्ने अवस्था छैन ।

तपार्इंले पनि अर्थमन्त्री हुँदा स्वयंकर घोषणा गर्नुभएको थियो । अहिले भावी प्रधानमन्त्रीका रूपमा हेरिनुभएका एमाले अध्यक्ष केपी ओलीले कालोधनको उपयोगको कुरा गर्नुभएको छ । यसबारे तपाईंको प्रतिक्रिया के छ ?
त्यतिबेला गरिएको स्वयं कर घोषणा जसले कर तिरेका छैनन्, जानेर वा नजानेर । तीनलाई कर तिर्न दिएको मौका हो । यदि हिस्सा सरकारलाई बुझायौ भने करबाट क्लियरेन्स दिन्छौं भनेर भनिएको हो । भ्रष्टाचारको पैसा छ भने त्यसले उन्मुक्ति पाउँदैन । अरु आर्थिक अपराध गरेर कमाएको पैसा हो भने उन्मुक्ति पाउँदैन । कर नतिरेको र कर छलेको अवस्थाका लागि मात्र स्वयं सम्पत्ति घोषणा गराएको हो । अहिले जुन ‘मनि लाउन्ड्रिङ’को कुरा छ, कालोधन भनेको कर नतिरेको मात्र होइन । त्यो चोरी गरेको पनि हुनसक्छ, लागुपदार्थ ओसारपसारको पैसा पनि हुनसक्छ । आतंकवादका लागि जम्मा गरिएको पैसा पनि हुन सक्छ । त्यसका लागि हाम्रा अन्तर्राष्ट्रिय सम्झौताहरू छन् । जस्तो, ‘फाइनान्सियल एक्सन टास्कफोर्स’ छ । हामीले अन्तर्राष्ट्रिय प्रतिबद्धता गरेका छौं । त्यसका आधारमा कानुन पनि बनेका छन् । त्यो उल्लंघन भएको छ÷छैन अनुगमन गर्न ‘एसिया प्यासिफिक ग्रुप अफ मनि लाउन्ड्रिङ’ भन्ने पनि छ । त्यसले बेलाबेलामा हेरिनै रहेको हुन्छ । त्यो कार्यान्वयन गरिएन भने नेपाल वित्तीय क्षेत्रमा कालोसुचीमा पर्न सक्छ । त्यसले नेपालमा हुनसक्ने लगानीलाई रोक्न सक्छ । नेपालको अन्तर्राष्ट्रिय वित्तीय छवि समाप्त हुनेछ । ओलीजीले जसरी बोल्नुभएको छ, त्यो अति खतरनाक कुरा हो । उहाँले यो सबै कुरा नबुझिकन हल्का ढंगबाट बोल्दिनु हुन्छ । लगानीको दृष्टिकोणले नेपालको वित्तीय अवस्थाको दृष्टिकोणले भोली हामी बहिष्कृत हुनसक्ने डर पनि हुन्छ ।

Finance Ministry forms AML Cell

The Finance Ministry has formed an ‘Anti-Money Laundering Cell’ to facilitate the government initiatives to curb money laundering activities.
The cell – that will to monitor the progress made by various bodies in combating financial crime, such as money laundering and terror financing, in a bid to prevent the country from falling back into the watch-list of the Financial Action Task Force (FATF) – has been under the leadership of Economic Policy Analysis Division of the Finance Ministry, will help various regulatory bodies, like the Nepal Rastra Bank, the Insurance Board, the Securities Board of Nepal, and Institute of Chartered Accountants of Nepal, and state agencies, like the Immigration Department and the Customs Department, to conduct self-evaluation of their performance in combating financial crime.
It will also study the government’s initiatives on anti-money laundering programmes and recommend necessary corrective measures, according to the ministry. "The representatives of Anti-Money Laundering Department and Nepal Rastra Bank will be the members of the cell."
The government has also formed 16 sub-committees under the main committee, which will study the laws related to anti-money laundering, capacity enhancement of related organizations. Based on outcomes of self assessments, various legal and policy reforms would be made, and capacity of institutions conducting research and analysis into money laundering and terrorist financing would be enhanced. Based on these assessments, various measures would be recommended to control money laundering and terror financing in the country. The committee has also been assigned to formulate a national strategy on anti-money laundering and against financing of terrorist activities.
These initiatives are being taken to prevent the country from being enrolled in the watch-list of the FATF, an international body that creates standards to fight global financial crime. A country’s entry into FATF’s watch-list will tarnish its image and make it difficult for Nepali financial institutions to collaborate with international financial institutions, raises various financial transaction costs, and deters foreign investment and aid from entering the country.
The FATF had included Nepal in its watch-list in 2010 citing Nepal had not made adequate legal reforms and strengthened institutions to tackle financial crime according to Nepal's commitment with the international body. The FATF removed Nepal from its watch-list in June 2014 after the parliament passed Money Laundering Prevention Act, Proceeds of Crime (Confiscating, Seizing and Freezing) Act, Mutual Legal Assistance Act, Organised Crime Control Act and Extradition Act.
The FATF will now review Nepal’s performance in controlling financial crime in fiscal year 2019-20. The assessment will continue till 2020-21. During the assessment, the FATF will oversee compliance of its 40 recommendations, which constitute the international standards for anti-money laundering and combating financing of terrorism.
The newly formed cell, which comprises representatives of the Finance Ministry, the Department of Money Laundering Investigation and the Nepal Rastra Bank, will remain in place until the FATF’s assessment is over.
"We hope that it will help to reform the national system on anti-money laundering," Subedi said, adding that the cell will also finalise the agenda for the annual meeting of Asia Pacific Group on Money Laundering that is going to be held next year in Nepal.
Nepal will host the annual meeting of the Asia Pacific Group (APG) on Money Laundering, an autonomous regional inter-governmental anti-money laundering body in 2018. This is the first time Nepal is hosting the meeting. The APG’s annual meeting generally discusses ways to tackle new threats that can foster financial crime. The meeting also evaluates measures being taken by various countries in the Asia and the Pacific to combat financial crime, and recommends measures to strengthen capacity of various institutions and give more teeth to legal framework to control money laundering and terror financing. The APG, which comprises 41 member countries and a number of international and regional observers, is the de facto Asia-Pacific chapter of the Financial Action Task Force, an international body that creates standards to fight global financial crime.

Nepal needs to amend 50 laws by 2018

Nepal needs to amend some 50 laws within next two years to abide by its international commitment to fight against the flow of dirty money.
The laws also need to be amended to help the country stop funding for criminal activities. If these laws are not amended, the Financial Action Task Force (FATF) will put Nepal in the black list, unlike in the 2014 when it was in the watch list only.
The FATF removed Nepal from the watch list in June, 2014, indicating that the international body that creates standards for fighting financial crime is satisfied with efforts made by the country in combating money laundering and terror financing. The decision was taken by the plenary meeting of the FATF held in Paris.
Though removal of Nepal from the watch list helped enhance the country’s image as a financially disciplined country, the country has a lot to do in preparing and amending the laws, according to a high ranking official of the Finance Ministry.
FATF removed Nepal from the watch list after the parliament ratified the amendment to several acts including the Money Laundering Prevention Act, Proceeds of Crime (Confiscating, Seizing and Freezing) Act, Mutual Legal Assistance Act, Organised Crime Control Act and Extradition Act that are  related to anti-money laundering and combating terror financing.
Blacklisting by the FATF would make the country’s financial institutions unable to collaborate with international financial institutions, add extra transaction costs as the country’s goods are put under scanner, and dispel foreign investment and aid like in the case of Democratic People’s Republic of Korea (DPRK).
The FATF – the global standard setting body for anti-money laundering and combating the financing of terrorism (AML/CFT) – today identified Democratic People’s Republic of Korea (DPRK) for its strategic deficiencies for anti-money laundering and combating the financing of terrorism regime, and the serious threat this poses to the integrity of the international financial system. It has also called on its member countries to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the DPRK.
Likewise, it will continue to engage with Iran and closely monitor its progress, adds the FATF press note. "The review in Paris today also listed nine countries for their strategic deficiencies in combating the flow of dirty money,” it added.
If laws are not amended by 2018, to update them and give teeth to the country’s fight against money laundering and terror financing, Nepal this time runs the risk of falling back into the black list unlike earlier, the official added.
The FATF will review Nepal’s case again in 2019, the official said, adding that anti-money laundering rules not only include drug money, human trafficking money or terrorism transfers and illegal weapons deal but also compliance with cross-border transactions and paying taxes.
Though Nepal is not a direct member of FATF, it is under the Asia/Pacific Group on Money Laundering (APG) that ensures the adoption, implementation and enforcement of internationally accepted anti-money laundering and counter-terrorist financing standards as set out in the FATF Forty Recommendations and some Special Recommendations.
The APG is helping Nepal in enacting laws to deal with the proceeds of crime, mutual legal assistance, confiscation, forfeiture and extradition; providing guidance in setting up systems for reporting and investigating suspicious transactions and helping in the establishment of financial intelligence units.
There are currently 37 members of the FATF – 35 jurisdictions and 2 regional organizations. Financial Information Unit (FIU) under the central bank is Nepal’s financial intelligence unit. The national agency responsible for receiving, processing, analysing and disseminating financial information and intelligence on suspected money laundering and terrorist financing activities to the Investigation Department, other relevant law enforcement agencies and foreign FIUs is working with various agencies including Finance Ministry, Foreign  Ministry, Home Ministry and Law Ministry to  amend the laws before  the FATF review in 2019.

Policy harmonisation needed to curb flow of dirty money

Greater policy harmonisation among government agencies has been urged to curb the flow of dirty money.
As some world leaders have resigned and others are under pressure to resign over the Panama Papers leak concerning international illicit money flows, government agencies in Nepal have also started debating policy harmonisation. "Nepal Investment Board approves mega foreign investments but it now has to be extra careful to investigate backgrounds before approving foreign investments," according to a high source at the Department of Money Laundering Investigation (DMLI).
Likewise, apart from cross checking foreign investments, banks and financial institutions also have to check the backgrounds before handling any transactions or opening accounts for foreign or domestic investors, the source said, adding that Article 6 of the Anti-Money Laundering Act has restricted the opening of accounts for shell companies – offshore bogus companies – and carrying out any transactions with them. "If found out, the banks and financial institutions will be punished under the Act."
Though banks and financial institutions already have to report transactions of over Rs 1 million or suspicious transactions to the Financial Information Unit (FIU) under the central bank, the Panama Papers leak has again raised a serious question over the possibility of such institutions becoming involved 'unknowingly'.
Banks and financial institutions have to be extra careful now, the source said.
Likewise, the government has also to seriously take stock of registered companies to curb the flow of dirty money, the official suggested. "Though Nepal has committed itself to curb the flow of dirty money – earnings through corruption, tax evasion and black marketing – the government itself is promoting black marketing and institutional corruption, and this could damage the economy in the long run."
Meanwhile, the DMLI today called on stakeholders including the revenue administration, the central bank's Financial Information Unit (FIU) and the police, to discuss the possibility of dirty money flowing into the country from offshore shell firms, and also the possible Nepali names in the Panama Papers leak.
Along with the DMLI, the FIU and the Department of Revenue Investigation (DRI) are the key government agencies that deal with issues of money laundering, terrorism financing and foreign exchange misappropriation.
According to DMLI chief Damodar Regmi, the meeting discussed the seven Nepalis fingered by the Panama Papers leak. "We are seriously discussing financial connections, transactions and the possibility of tax evasions," he said, adding that the department has also restarted the profiling of suspicious names that could be in the Panama Papers although the leak has not identified any of the names. "It has, however, claimed that the names will be published in May," Regmi added.
Last year also, the central bank, the DRI and DMLI had tried to investigate names that had figured in rumours following revelations of illegal outflow of money to a Swiss Bank.
Such investigations are very tricky, Regmi said, adding that without any authentic information it's impossible to track the flow of dirty money and the activities of bogus companies. "However, we have restarted the process of profiling names and restarting investigations," he added.
As Nepal has been seeing a steady rise in FDI commitments from the countries identified by the ICIJ as tax havens, the DMLI has said that it will now step up surveillance for FDI coming from these tax havens. There is a need of in-depth investigation, given the huge foreign direct investment (FDI) entering Nepal from tax havens in recent years, Regmi said, adding that statistics from the Department of Industry (DoI) reveals that of the total FDI commitments till last fiscal, about 20 per cent were from tax havens.
The rise in money entering Nepal from tax havens has raised question that it could be illegal money stashed abroad by Nepalis, though the government departments have no proper records of such money.
Apart from enhancing the supervisory capacity to monitor FDI commitments, the government agencies like the DoI and the Office of Company Registrar (OCR) should work together to fight the flow of dirty money.
Regmi said that now onwards the DMLI will adopt 'risk-based supervision system', instead of launching investigating after the incident of money laundering surfaces. But, the DMLI has any success success so far in investigating money laundering cases. The department has not filed any any case against money launderers at the Special Court in the current fiscal year, neither had it filed any case in the last fiscal year too.
Since its establishment some five years ago, the department had filed only 30 money laundering cases at the Special Court. The DMLI was established in 2011 after a huge international pressure on the government. The government had committed the Financial Action Task Force (FATF) – a global anti-money laundering body – that it would approve the anti money laundering act in line with global fight against the fight to dirty money flow.
The department has to be strengthened to get result against the cases of money laundering.
Currently, the department has been probing 700 cases and 200 of them are in 'advanced stage', according to Regmi.

Department of Money Laundering Investigation to investigate 5.4 billion black money stashed in HSBC Switzerland

Department of Money laundering Investigation is going to investigate the Rs 5.40 billion black money stashed in the accounts of eight Nepalis at HSBC bank in Switzerland.
"Black money stashed in or out of the country comes into the jurisdiction of the Department of Money laundering Investigation, according to the Anti-Money Laundering Act," informed director general of the department Kewal Bhandari.
It is illegal to park money earned through illegal means at any domestic or foreign banks”, he said, adding that the government can seek information of the accountholders with the Switzerland government. "Since Nepal is a party of Financial Action Task Force, it could seek information on black money parked anywhere in the world."
Nepal had passed Anti-Money Laundering Act with Legal Mutual Agreement Act to check the flow of black money, according to the country's commitment to the FATF, the international watchdog of the flow of illegal money.
Though, there has been a rumor since Panchayat regime that Nepalis have been stashing away their cash in Swiss banks, the political transition after 1990 movement, the trend increased.
'Swiss Leak' has leaked the information of over $1 million black money parked in HSBC Bank of Switzerland. Though, it has failed to name the eight Nepalis, it has leaked that some $54 million has been stashed in 12 confidential accounts on the names of eight Nepalis. Of the 203 countries, Nepal is 116th   among the countries having private account in HSBC Switzerland. Illegal earnings from criminal activities and proceeds from corruption are routed to Swiss banks through various channels.
Leaked by a computer expert of the HSBC Bank in Switzerland in 2007, the list has as many as 100,000 people from various countries with black money in the bank.
The documents obtained by the International Consortium of Investigative Journalists (ICIJ) via Le Monde, had earlier in 2013 too, too revealed 13 Nepalis having their accounts in the Swiss bank.
The government has established the Department of Money Laundering and Investigation according to the commitment in the Anti-Money Laundering Act. However, the frequent changes of the chief of the department, due to political pressure, has made the department ineffective in investigation of black money.
As the Swiss Leak revealed who-is-who in its list of black money depositors, the British bank HSBC Holdings Plc admitted failings by its Swiss subsidiary. HSBC Bank has been blamed for advising account holders to deposit money by dodging tax or misappropriating government or public fund.
Swiss private banking industry, long known for its secrecy, operated differently in the past and this may have resulted in HSBC having had 'a number of clients that may not have been fully compliant with their applicable tax obligations,' said the bank in its statement.

अवैध सम्पत्ति आर्जन: नेपाल अझै उच्‍च जोखिममा

अवैध सम्पत्ति आर्जनमा नेपाल उच्च जोखिमयुक्त मुलुकमा परेको छ। वासेल सम्पत्ति शुद्धीकरण सूचकांक (वासेल एएमएल इन्डेक्स) ले नेपाल अझै उच्च जोखिममा रहेको देखाएको हो। गत साता प्रकाशित सन् २०१४ को वासेल सम्पत्ति शुद्धीकरण सूचकांक अनुसार नेपाल जोखिमपूर्ण अवस्थामा रहेको पुष्टि भएको छ।
एक सय ६२ मुलुकमा गरिएको अध्ययनमा नेपाल उच्च जोखिमयुक्त देशमध्ये १४औं स्थानमा परेको छ। विगत एक वर्षमा यो क्षेत्रमा नेपालले थोरै सुधार भने गरेको छ। नेपाल सन् २०१३ को सूचकांकमा एक सय ६० मुलुकमध्ये १६औं स्थानमा थियो।
नेपालले असारमा सम्पत्ति शुद्धीकरणसम्बन्धी कानुन अनुमोदन गरेर अन्तर्राष्ट्रिय वित्तीय कारबाही कार्यदल (फाइनान्सियल एक्सन टास्कफोर्स, एफएटीएफ) को कालोसूचीबाट भने जोगिएको थियो। भ्रष्टाचार, सुशासन, कानुनको प्रभावकारिता, वित्तीय प्रणालीमाथि नियन्त्रणका स्रोत, सार्वजनिक र वित्तीय पारदर्शिता, अन्तर्राष्ट्रिय लेखामानलगायत १४ विभिन्न सूचकांकको समग्र अध्ययन गरी यो प्रतिवेदन तयार गरिएको हो।
वासेल सम्पत्ति शुद्धीकरण सूचकांकले सम्पत्ति शुद्धीकरणसम्बन्धी विभिन्न मुलुकका जोखिमका बारेमा प्रकाश पार्छ। यो सूचकांकले कुन देशमा कति अवैध सम्पत्तिको ओसारपसार वा खरिदबिक्री वा हस्तान्तरण हुन्छ भन्ने भन्दा पनि त्यो देश सम्पत्ति शुद्धीकरणको मामलामा कति जोखिमयुक्त छ भन्ने प्रस्ट पार्छ।
नेपाल राष्ट्रबैंकका डेपुटी गभर्नर महाप्रसाद अधिकारीका अनुसार वासेल सम्पत्ति शुद्धीकरण सूचकांकले बृहत् सूचकांकका आधारमा अध्ययन गरेकोले नेपालले त्यसलाई चुनौती दिन नसक्ने बताए। एफएटीएफको कालो सूचीबाट हाललाई जोगिए पनि नेपालले सम्पत्ति शुद्धीकरण कानुन कार्यान्वयनमा अझै धेरै काम गर्न बाँकी छ।
नेपाल सम्पत्ति शुद्धीकरणको अन्तर्राष्ट्रिय प्रतिबद्धताबाट भने अझै खतरामुक्त भइनसकेको भन्ने वासेल सम्पत्ति शुद्धीकरण सूचकांकले मात्र देखाउँदैन। पाँच वर्षपछि हुने एफएटीएफको मूल्यांकनले नेपालको विस्तृत अध्ययन पछिमात्र नेपालको जोखिम टरेको वा नटरेको थाहा हुन्छ।
राष्ट्रबैंक वित्तीय सूचना एकाइका अनुसार सन् २०१९ को विस्तृत मूल्यांकनमा नेपालको कानुनी एवं संस्थागत संरचनाभन्दा पनि एफएटीएफले सम्पत्ति शुद्धीकरण मुद्दाका परिणाम एवं प्रकृयाका बारेमा गुणस्तरीयताको अध्ययन गर्छ।
कानुन बनाउनु र संस्था गठन गर्नुमात्र सम्पत्ति शुद्धीकरणको आशय होइन। त्यसैले पाँच वर्षपछि हुने मूल्यांकनमा कार्यान्वयनका प्रक्रिया एवं परिणामलाई अध्ययन गरेर अपराधबाट आएको सम्पत्ति रोक्‍न देशको कानुन कति सफल भयो भन्ने आधारमा मूल्यांकन हुनेहुँदा नेपालको सही परिक्षा त्यति बेला हुने वित्तीय सूचना एकाइको ठम्याइ छ।
सम्पत्ति शुद्धीकरण वित्तीय कारोबारको त्यस्तो पक्ष हो जसमा अवैध वा कसुर गरी कमाएको सम्पत्तिको वास्तविक उत्पत्ति र स्रोत लुकाउने र विभिन्न वित्तीय कारोबारको माध्यमबाट नयाँ कानुनी स्रोत सिर्जना गर्ने प्रयास गरी त्यस्तो सम्पत्तिलाई शुद्ध बनाउने प्रयास भएको हुन्छ।
सम्पत्ति शुद्धीकरणसम्बन्धी अन्तर्राष्ट्रिय संस्था वित्तीय कारबाही कार्यदलले सम्पत्ति शुद्धीकरणलाई अपराधजस्तो नराम्रो स्रोतबाट प्राप्त आम्दानीलाई छिपाउन गरिने प्रक्रिया भनी परिभाषित गरेको छ।
सम्पत्ति शुद्धीकरण निवारण संयन्त्रले जहिले पनि राज्यलाई व्यक्तिको अवैध सम्पत्तिको पछाडि लगाइरहन्छ। यसले जुनसुकै व्यक्तिले जहाँसुकैबाट र जहिलेसुकै गरेको आर्थिक वा व्यावसायिक गतिविधिलाई राज्यको निगरानीमा ल्याई गैरकानुनी आर्जन वा आर्जित स्रोतले नभ्याउने सम्पत्ति र व्यक्तिलाई कारबाहीमा ल्याउने गर्छ।
यसैगरी सम्पत्ति शुद्धीकरणअन्तर्गत वित्तीय पारदर्शिता, स्थायित्व र राष्ट्रको समग्र अन्तर्राष्ट्रिय सम्बन्ध र छविमा समेत महत्त्वपूर्र्ण योगदान गर्छ। नेपालले पाँचवर्षे सम्पत्ति शुद्धीकरण तथा आतंकवादी क्रियाकलापमा वित्तीय लगानी निवारण रणनीति तथा कार्ययोजना (२०६८-२०७३) समेत जारी गरी सकेको भए पनि कानुनको कार्यान्वयन अवस्थाको बारेमा भने अझै निगरानी गर्न आवश्यक छ।
सम्पत्ति शुद्धीकरण अनुसन्धान विभागका महानिर्देशक चूडामणि शर्माका अनुसार हालसम्म विभागले हालेको सम्पत्ति शुद्धीकरण सम्बन्धी मुद्दामा एउटाबाहेक कुनै पनि मुद्दा हारेको छैन। तर, सन् २०१९ मा हुने एफएटीएफको विस्तृत मूल्यांकनले कानुन एवं संस्थाको गठनभन्दा पनि कार्यान्वयन पक्षमा बढी ध्यान दिने भएकोले देशमा अवैध काम गरेर आय आर्जन गर्नेको सञ्जाल बढ्दै गएको छ।
कानुन कार्यान्वयनको प्रक्रिया एवं अपराधबाट जम्मा गरेको सम्पत्ति रोक्न कानुन एवं संस्था कति सक्षम भए त्यसको आधारमा नेपालको मूल्यांकन हुने हुनाले हालको अवस्थाबाट खुसी भइहाल्नुपर्ने स्थिति नरहेको राष्ट्रबैंकका डेपुटी गभर्नर अधिकारीको भनाइ छ।

Nepal still under grey list, FATF asks to pass Acts to stop flow of dirty money

Financial Action Task Force (FATF) continued to keep Nepal under Grey List or jurisdiction to watch.

The FATF plenary that ended today in French capital Paris has decided not to remove from International Cooperation Review Group (ICRG) monitoring for the time being as the country has not yet passed the Acts to check the flow of dirty money, according to deputy governor of the central bank Maha Prasad Adhikari.

The three-day plenary – that started on February 12 – sought all ordinances be enacted as permanent law, Adhikari said in email from Paris.

Nepal has earlier in the October meeting escaped from being blacklisted at the last moment by bringing the ordinance. However, the status quo since the last October meeting continued due to lack of parliament that could pass the ordinances and stamp them as permanent law.

The second Constituent Assembly (CA) election in November has elected the Legislature-Parliament that has just started to enter into regular business. The parliament needs to enact the five ordinances as permanent law in 60 days of the starting of the parliament.

Nepal had earlier committed to the international community to bring anti-money laundering acts by 2010 to check the flow of dirty money. However, prolonged political transition has delayed the process and in October the government had brought the ordinance to narrowly escape the black listing.

The Legislature-Parliament has to approve ordinances – Mutual Legal Assistance, Procedures of Crime, Extradition Treaty and Anti-money Laundering Act (second amendment) and made them a permanent law.

The ordinances have been tabled in the parliament a week ago.

According to the law, they have to be endorsed to make them Act within 60 days.

A team from the FATF – a global anti-money laundering body – had recently visited Nepal to study country's progress in anti-money laundering measures and status of the ordinances.

The Paris FATF Plenary discussed on the report and the next meeting in June will decide the fate of Nepal.

"However, Nepal's recently elected Parliament will need to consider the ordinances and ratify them as permanent parliamentary statues," the FATF said, encouraging Nepal to urgently enact the ordinances as Parliamentary statutes within the statutory time frame. "Until then, FATF will continue to monitor Nepal."

"Nepal has made significant progress to improve its AML/CFT regime by adequately criminalising money laundering and terrorist financing, establishing and implementing adequate procedures to identify and freeze terrorist assets, implementing adequate procedures for the confiscation of funds related to money laundering, enacting and implementing appropriate mutual legal assistance legislation, ensuring a fully operational and effectively functioning Financial Intelligence Unit (FIU) and establishing adequate suspicious transaction reporting obligations for money laundering and terrorist financing," the FATF statement read, adding that it was able to confirm all of the technical requirements are in place and Nepal's strong commitment to implementing the reforms.

If blacklisted a country can not be able to get foreign aid, international trade as the banks and financial institutions will not be able to open letter of credit for importer and the countrymen will have to pass through the red channels while travelling abroad.

Currently, North Korea and Iran are in the black list – with counter measure –of the FATF that sets standards and promotes effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.

According to the FATF statement, some 19 countries are in grey list, whereas two are in dark grey, nine in black list and two countries are in blacklist with counter measures.