KATHMANDU, DEC 7- 2011
Nepal Rastra Bank Financial Information Unit (FIU) and Financial Intelligence Unit-India entered into an agreement to check the flow of dirty money between the two countries.
Central bank's FIU chief Dharma Raj Sapkota and Financial Intelligence Unit-India's Pravin Kumer Tiwari signed a Memorandum of Understanding on behalf of their respective institutions on November 17.
The move is supposed to help at curbing the money laundering — turning the illegal money into legal — that can used in funding terrorist or in other illegal drugs and arms related trafficking. The information on any sort of illegal money laundering and funding of terrorist activities has to be shared among the nations that have entered into an agreement through such MoUs, that is supposed to help minimising the instances of such unlawful activities. Sharing information will be key in curbing flow of dirty money as its not problem of a single country or jurisdiction.
Source: THT
Nepal Rastra Bank Financial Information Unit (FIU) and Financial Intelligence Unit-India entered into an agreement to check the flow of dirty money between the two countries.
Central bank's FIU chief Dharma Raj Sapkota and Financial Intelligence Unit-India's Pravin Kumer Tiwari signed a Memorandum of Understanding on behalf of their respective institutions on November 17.
The move is supposed to help at curbing the money laundering — turning the illegal money into legal — that can used in funding terrorist or in other illegal drugs and arms related trafficking. The information on any sort of illegal money laundering and funding of terrorist activities has to be shared among the nations that have entered into an agreement through such MoUs, that is supposed to help minimising the instances of such unlawful activities. Sharing information will be key in curbing flow of dirty money as its not problem of a single country or jurisdiction.
Source: THT
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