NRB hosts inter-agency meeting to combat financial crime

KATHMANDU: Nepal Rastra Bank (NRB) today hosted an interaction programme to strengthen coordination among regulatory, supervisory, law-enforcement and prosecution bodies to combat financial crime and enhance good financial governance.

Chairing the event, NRB Governor Prof. Dr Biswo Nath Poudel stated that inter-agency collaboration is indispensable to maintain good financial governance and control financial offences. He stressed that a "whole-of-government approach" should be adopted to keep national resources out of the hands of wrong individuals or institutions, expressing confidence that coordinated action will help remove Nepal from the Financial Action Task Force (FATF) grey list.

The initiative comes as the country works towards a January 2027 deadline to complete key tasks required to exit the grey list, according to details presented by Department of Money Laundering Investigation (DMLI) Director General Nirmal Dhakal. Data shared at the event showed that financial-crime cases have increased approximately four-and-a-half times over the past five fiscal years, accounting for nearly 28% of total legal cases.

Chief guest Attorney General Dr Narayan Datta Kandel stated that ministerial-level studies and amendment processes regarding existing legal problems are underway, adding that the Office of the Attorney General (OAG) will take an active role in combating financial crime. Inspector General of Police Dan Bahadur Karki noted that controlling financial offences requires joint initiatives, mentioning that investigations are receiving special priority alongside capacity-building for the Central Investigation Bureau (CIB).

Senior Superintendent of Police (SSP) Rishi Ram Kandel pointed out that 84% of financial-crime cases involve banking offences, primarily cheque dishonour. He cited 132 intelligence reports received from the Financial Information Unit (FIU) in the current fiscal year regarding hundi, virtual currency and technology-based fraud, identifying 'money mule' networks as an expanding challenge. DMLI Director General Dhakal highlighted the necessity of joint financial investigations under the concept of 'follow the money — follow the assets' by connecting reporting entities, regulators, the FIU and law enforcement into a single 'intelligence cycle'.

In a presentation on banking-sector regulation and supervision, NRB Deputy Director Dilli Ram Neupane covered supervisory jurisdictions, distinctions between supervision and criminal investigations, and the administrative nature of regulatory actions.

NRB Executive Director Guru Prasad Paudel delivered opening remarks on the event's objectives, while NRB Deputy Governor Dirgha Bahadur Rawal facilitated the concluding discussion session. High-ranking representatives from NRB, Nepal Police, Securities Board of Nepal (SEBON), Nepal Insurance Authority (NIA), DMLI, FIU and OAG attended the event.