Money-Laundering Prevention Bill to be amended to check Illicit Transactions


KATHMANDU, FEBRUARY 28: The government has proposed amending the bill related to money laundering and business promotion. Minister for Law, Justice and Parliamentary Affairs Dhanraj Gurung defended the government’s move saying that the bill to amend some laws relating to the Prevention of Money Laundering and Business Environment Promotion has been presented in the parliament for checking illicit transactions.

Responding to queries raised during a discussion in yesterday’s meeting of the National Assembly’s Legislation Management Committee, Minister Gurung said the bill has been put forward for amendment process since illicit financial flows have direct bearing on the national economy.

He added that the government also decided to amend the bill by taking into consideration the recommendations made by development partners. The minister further shared that other related laws are also to be amended to make the prevention of money laundering law effective.