Performance of AML dept poor

KATHMANDU, DEC 25: 

The Department of Money Laundering Investigation (DMLI) has not been able to investigate suspected illegal properties properly due to political protection of of high profile people, who are under the scanner of the department.

“The government has transferred the team at the department frequently — since its establishment — everytime they started investigations of property of suspected high profile dons, an official at the department said without wanting to be named.

“The government changed four director generals since its establishment almost two year in 2011,” the source said, adding that it is a clear sign that the government does not want the department to investigate and bring the suspected high profile dons to book.

It is even shameful that the department has been focused on investigating only on common people, who are unaware of the law, the source claimed. “The high profile cases filed in the department are gathering dust.”

The department could have brought real money launderers like smugglers, dons, traders and even big entrepreneurs under its investigation, had it been given a chance to complete investigation. “But, the corrupt and weak political leadership has itself been protecting the suspected people by transferring the director generals frequently and making the department a show piece.”

According to the government’s commitment to the international agencies on fight against dirty money flow, it had established a separate Department of Money Laundering Investigation.

The government is yet to approve Bill Against Organised Crime as it has become a serious concern to the Financial Action Task Force (FATF) that has also shown concerns regarding operational independence of Financial Information Unit (FIU) and amendment of Anti-Money Laundering Act.

Though the government had approved two Bills — Mutual Legal Assistance Bill and Extradition Bill — on June 18, the government is not serious on proper functioning of the Department of Money Laundering Investigation that is key in fight against the dirty money.

Meanwhile, a total of 117 complaints have been registered in the department so far. Out of total cases, the department has filed 16 cases in the court,” director at the department Bishwa Subedi said adding that the department will soon file another four cases at the court.

The department is currently investigating the cases related to real estate business, land transaction, misuse of ATM cards and possession of Nepali currency illegally.

Source: THT