Monday, January 23, 2012

FATF warns Nepal of blacklisting

Financial Action Task Force (FATF) — a global anti-money laundering agency — has warned Nepal to implement its commitments in fighting against the flow of dirty money or will be black listed.
During a meeting of FATF/Asia-Pacific Regional Review group's face-to-face meeting last week, the global body has threatened Nepal to black list, after the country failed to fulfill its past promises on deadline.
Nepal had promised to update the Acts and laws against the flow of dirty money and ratify remaining two Bills under UN conventions — Mutual Legal Assistance Bill and Extradition Bill that are still in the parliament — by the end of 2011, but could not walk the talk forcing the regional meeting to propose some two dozen reforms."The meeting proposed some 22 reforms, but we agreed on three reforms — legal reform, strengthening of Financial Information Unit (FIU) under the central bank and strengthening of banking reports — for the time being as the country is passing through a transition phase," according a participants at the meeting that took place in Sydney, Australia.
Nepal — led by secretary at the Prime Minister's Office Trilochan Uprety — has presented its progress report in the meeting. Central bank deputy governor Maha Prasad Adhikari, secretary at the Ministry of Law Bhesraj Sharma, three joint secretaries of the Finance Ministry and FIU's deputy director Hari Prasad Nepal took part in the meeting.
Earlier, prescribed by the global anti-money laundering agency, the parliament has already ratified two UN Conventions — International Convention for the Suppression of the Financing of Terrorism-1999 and UN Convention Against Transnational Organised Crime — in June, 2011. But it needs to prepare Acts according to the Conventions.
Now, Nepal must meet its commitments by 2012 February 13, where the FATF is going to meet in Paris. The FATF Plenary and Working Group Meetings on October 24-28, 2011 in Paris, France had broadly discussed on July, 2011's 14th annual meeting of Asia/Pacific Group on Money Laundering (APG) report and forwarded the progress report to the FATF plenary for further discussions.Nepal is one of the Asia/Pacific Group on Money Laundering (APG) members in the FATF Plenary as it is not an independent member of FATF.
The Paris plenary had discussed on consideration of policy issues relating to the current review of the FATF standards; matters relevant to the fourth round of evaluations (commencing after 2012); and international cooperation issues with respect to a number of countries — including some APG members — and determining the way forward for jurisdictions that have strategic and other deficiencies in their domestic AML/CFT frameworks.
Of the total 40 plus nine compliance of Financial Action Task Force (FATF), Nepal has still to fulfill most of them.

13 comments:

Anonymous said...

I am tгulу thankful to the hοlder of
this web pаge whо haѕ sharеԁ this great paragraph аt at this ρlаce.
music video
My page > music video

Anonymous said...

With the ability to actually alter the texture and condition
of the hair with clever and fashion-forward hair styling products, Rusk Being products
are sure to intrigue the hair product lover in all of us.

As natural products don't have any side-effects, you can rest assured for healthy hair. Soon after this, use curl lotion all more than your hair, and make use of mousse and squeeze this in your hair to that your curls seem flawless.

Feel free to surf to my page: hair products

Anonymous said...

Thanks for your post made here. One thing I would like to say is that most professional areas
consider the Bachelors Degree as the entry level requirement for an online certification.
When Associate Certification are a great way to start out, completing your current Bachelors opens up many entrance doors to various jobs, there
are numerous on-line Bachelor Diploma Programs available from institutions like The University of Phoenix, Intercontinental University Online and Kaplan.
Another issue is that many brick and mortar institutions give Online editions of their degree
programs but normally for a substantially higher charge than the providers that specialize in online college degree plans.


Also visit my blog ... site of dating

Anonymous said...

It's the best time to make some plans for the future and it's time to be happy.
I have read this post and if I could I want to suggest you few interesting things or
tips. Maybe you can write next articles referring to
this article. I desire to read even more things about it!


Here is my web page; uk dating

Anonymous said...

I have noticed that in unwanted cameras, specialized sensors help to maintain focus
automatically. These sensors of some camcorders change
in in the area of contrast, while others start using a beam with infra-red (IR) light, specially in low light.
Higher standards cameras from time to time use a blend of both ques and probably have Face Priority AF where
the photographic camera can 'See' the face and focus only upon that.
Thank you for sharing your thinking on this blog.


Look at my blog post ... http://meet.stevenlutz.com

Anonymous said...

My brother recommended I might like this blog. He was entirely right.
This post actually made my day. You cann't imagine just how much time I had spent for this information! Thanks!

My blog - fuckbook

Anonymous said...

One other issue is that if you are in a scenario where you do not possess a co-signer then you may really want
to try to make use of all of your financial aid options.
You can get many awards and other scholarships that will
ensure that you get money that can help with university expenses.
Th for the post.

Feel free to surf to my web site: fuck book

Anonymous said...

r ideas.

Here is my weblog; cyber sex

Anonymous said...

ew program, the foreclosure process can pick up exactly where it was left off.



My web page - fuckbook

Anonymous said...

Fantastic post however I was wanting to know if you could write a litte more on
this subject? I'd be very thankful if you could elaborate a little bit further. Appreciate it!

Take a look at my web page: skype sex

Anonymous said...

I precisely needed to thank you very much all over again.

I am not sure what I might have done in the absence of the actual advice provided
by you over that concern. Certainly was an absolute terrifying problem for me personally, nevertheless discovering the very skilled way you dealt with that forced me to weep with contentment.

I am just happy for the advice and in addition trust you recognize what a great job you were undertaking training the others through the use of your websites.
I am sure you haven't encountered any of us.

My website :: adult finder

Anonymous said...

I do agree with all the ideas you have presented in your post.
They're really convincing and will certainly work. Still, the posts are very short for novices. Could you please extend them a bit from next time? Thanks for the post.

Here is my web site; cyber sex

Anonymous said...

I'm extremely impressed with your writing skills and also with the structure in your blog. Is that this a paid topic or did you modify it your self? Either way stay up the excellent quality writing, it is rare to see a nice blog like this one nowadays..

My site fuckbook