Chief of MPCD Senior Superintendent of Police Sarbendra Khanal and DMLI Chief Damodar Regmi signed the MoU on behalf of their respective agencies.The agencies also formed a coordination committee including DMLI Director General, Chief of MPCD and information officers of DMLI and the Crime Division, according to a statement issued by DMLI.
According to the MoU, the agencies will share information, identify areas with higher risks of money laundering and financing terrorism, and enhance staff capacity to curb flow of illicit money. They also agreed to coordinate with each other in investigation and mobilization of resources.
The two agencies joined hands after involvement of seven Nepalis in offshore tax havens was confirmed in Panama Papers revelations.
DMLI has also decided to step up surveillance on foreign investments based on their origin and individuals involved as the government has no proper data on such fictitious foreign investments even though they are registered with Department of Industry.
According to the Department of Industry (DoI), a quarter of foreign investment commitment has come from countries known as tax heavens. But the existence of such companies and their role in employment generation cannot be identified and they seem to remain in 'papers' only.
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