International AML/CFT Conference Begins in Kathmandu Amid FATF Grey-List Challenge

A two-day international conference on Contemporary Issues About Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) has commenced in Kathmandu, organized by Nepal Rastra Bank’s Anti-Money Laundering Supervision Department.

Addressing the opening session, Governor Prof. Dr. Biswo Nath Poudel stressed the need to further strengthen Nepal’s internal mechanisms to combat money laundering, especially as the country is currently on the FATF grey list. He noted that while the grey-listing is a challenge, it also offers an opportunity to enhance transparency and align Nepal’s systems with global standards. He emphasized that controlling financial crimes requires coordinated efforts from banking, insurance, capital markets, cooperatives, and all relevant stakeholders.

The conference has brought together experts from Nepal, India, Bangladesh, Sri Lanka, and Mongolia, along with representatives from government agencies, regulatory bodies, and investigative institutions. Discussions focus on current risks, regulatory and supervisory practices, judicial perspectives, and capacity-building measures to tackle money laundering and terrorist financing.

Technical sessions include presentations on Nepal’s AML/CFT status following the 2023 mutual evaluation, trade-based money laundering risks, the use of data analytics and technology in supervision, and Mongolia’s experience in moving from grey-list monitoring to delisting. Panel discussions highlight the importance of coordinated institutional and judicial responses.

The event is expected to support Nepal in strengthening legal, policy, and implementation frameworks while learning from international best practices to improve its AML/CFT regime.