KATHMANDU, Jan 9: The Department of Tourism has revised the directives issued to casino operators as part of measures to prevent money laundering and the financing of terrorist activities.
This marks the second amendment to the instructions issued to casinos, which are classified as reporting institutions. The revision has been made by exercising authority under Section 7(P), Sub-section (2) of the Anti-Money Laundering Act, 2064, and Section 45(D) of the Tourism Act, 2035 (with amendments).
Hyatt Place Hotel and Casino Marina sign casino lease agreement
Under the revised directive, a new provision has been added requiring casinos to maintain records of customers who conduct cash transactions exceeding Rs 200,000 in a single day.
The provision obliges casinos to collect and retain detailed information of customers who spend more than the specified amount.
