KATHMANDU, May 21: Suspicious transactions related to money laundering of banks and financial institutions have increased by 49 percent.
According to the Financial Information Unit (FIU) of Nepal Rastra Bank, the number of suspicious transactions reported in 2024 increased by 49 percent compared to 2023.
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As per the reports of suspicious transactions and activities submitted to the FIU by reporting institutions under the Money Laundering Prevention Act, 2063, there were 6,255 suspicious transactions in 2023, which increased to 9,304 in 2024.
In 2024, the FIU analyzed 1,894 reports, of which 1,086 reports were forwarded to law enforcement/investigative agencies and regulatory bodies for further investigation. Among them, 808 reports have been archived by the FIU for potential future analysis if additional information becomes available. Banks and financial institutions submitted 1.783 million cross-border transaction reports to the FIU in 2023. In 2024, this number increased to 1.972 million.
The total number of entities connected to the FIU’s goAML system for reporting related to the prevention of money laundering and financing of terrorist activities — including law enforcement, investigative, and regulatory agencies — was 1,496 at the end of 2023. This number increased to 1,905 by the end of 2024.
