DoMLI to start own probe into money laundering

KATHMANDU, AUG 30 -

The Department of Money Laundering Investigation (DoMLI) is all set to start its own investigation of suspected money laundering activities in different areas to proactively intervene in such activities.

The department is basically investigating cases provided by the Financial Information Unit (FIU), police, Commission for Investigation of Abuse of Authority, and the general public, among others.

“We will soon be starting our own probe against persons who are suspected of amassing huge property without legitimate income sources,” said Rajendra Prasad Nepal, director general of the DoMLI. “We are now currently discussing the areas we should focus on. DoMLI officials said that the department would focus particularly on the private sector instead of the government.

“There has been talk of investigating the property of those who provide huge bail amounts to be released from jail,” said an official.

DoMLI officials said that judges had also been urging them to examine the sources of those who are jailed on corruption charges and those who post bail of huge amounts.

“Initially, they don’t show the source of income,” said the official. “When it comes to getting released from jail or paying hefty sums as per the court’s order on corruption charges, they immediately produce the necessary money.”

People involved in businesses such as foreign exchange, hotels and other businesses, cooperatives, hundi and those involved in tax evasion may come under the direct investigation of the department.

“We can also investigate the property owned by dons,” said the official. There has been joint efforts of the DoMLI and the central investigation bureau of the police in probing the properties of dons.

Currently, the DoMLI has been investigating over 160 cases. It has already filed 13 cases at the court which includes three cases filed by the Department of Revenue Investigation before the formation of the DoMLI one and a half years ago. The court has so far given the verdict on six cases all in favour of the government, and the rest of the cases are under review at the court.

Source: The Kathmandu Post