Financial Crime Control Bureau on the anvil

KATHMANDU, OCTOBER 21 : With the rise in financial crimes in Nepal, the government has initiated the process of establishing a Financial Crime Control Bureau. A concept paper for this has already been prepared. According to the Ministry of Home Affairs, discussions are currently ongoing regarding the very paper drafted by the Nepal Police.

After completing the discussions,  steps will be taken to amend the regulations of the Central Investigation Bureau (CIB) to integrate and advance the new Financial Crime Control Bureau, according to spokesperson Dil Kumar Tamang from the Ministry of Home Affairs.

As technology evolves, Nepal is witnessing an increase in both national and international financial crimes. With the involvement of international networks in many of these offenses, the challenges have simply grown.

Inspector General of Police (IGP) Basanta Bahadur Kunwar stated that the formation of a specialized bureau would streamline the control and prosecution of such crimes. As a result, the concept paper has been submitted to the Ministry of Home Affairs for approval.

Similar to the Cyber Bureau and the Narcotics Control Bureau, the new bureau will specialize in financial crimes, which is expected to enhance the effectiveness of investigations.

IGP Kunwar added that further steps will proceed once the Ministry approves the concept paper. Fraud and banking offenses, especially check bounce cases, currently dominate the complaints received by the police, disrupting the regular functioning of police offices.