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Started 1 week ago · Updated 6 days ago

APG Delegation Urges Nepal to Accelerate Reforms for FATF Grey List Exit

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A delegation from the Asia/Pacific Group on Money Laundering (APG) has urged Nepal to accelerate reforms and effectively implement its action plan to exit the Financial Action Task Force (FATF) grey list. During meetings with various government officials, the delegation emphasized the need for Nepal to complete its national risk assessment and strengthen compliance measures. Officials reiterated Nepal's commitment to implementing necessary reforms to address concerns raised by international monitoring bodies.

• The APG delegation, led by Deputy Executive Secretary David Shannon, met with key figures including Foreign Minister Shisir Khanal, CIAA Chief Commissioner Prem Kumar Rai, and Nepal Rastra Bank Governor Prof. Dr. Biswo Nath Paudel.
• Discussions focused on Nepal's progress in meeting international anti-money laundering and counter-terror financing standards, with emphasis on strengthening legal and policy frameworks and improving transparency.
• Nepal was placed on the FATF grey list in early 2025 and has been working on a reform plan to improve financial transparency and combat money laundering and financial crimes.
• The APG's visit, part of a support mission from May 18 to 20, involved consultations with various government institutions and stakeholders involved in anti-money laundering mechanisms.
• Nepal has shown improvements in anti-money laundering compliance indicators compared to previous review periods, according to Finance Minister Dr. Swarnim Wagle.