India to train Nepali officials on money laundering issues

KATHMANDU, Sept 5:

The Indian government has approved a ´Capacity Development Program´ for the officials of Department of Money Laundering Investigation (DMLI) and other stakeholder ministries to counter the challenges of money laundering and terrorist financing, according to a statement issued by India´s Ministry of External Affairs on Friday.

DMLI is an investigative department established in 2011 and it is a regulatory body for the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime.

Indian assistance aims to strengthen institutional capacity development of concerned departments in Nepal, according to statement. “The program is designed to cover the evolution of Prevention of Money Laundering Act, evaluation process by Financial Action Task Force (FATF), intelligence collection methodology, procedure for registering and investigation cases under PMLA, tracing proceeds of crime, terror financing, international co-operation and other relevant topics,” the statement added.

Altogether 60 government officials from DMLI, Nepal Rastra Bank, Commission for the Investigation of Abuse of Authority (CIAA), Ministry of Home Affairs, Office of the Attorney General, Ministry of Finance, and Central Investigation Bureau of Nepal Police participate in the training to be held in New Delhi.

Source: Republica