Fight against AML/CFTs

Published On: December 24, 2016 10:09 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 24: The National Banking Institute (NBI) and the Central Investigation Bureau (CIB) of Nepal police recently signed a memorandum of understanding (MoU) aiming at building the investigative capacity of police officers, particularly related to financial crimes.

Under the agreement, NBI will train and certify police officers on anti-money laundering and combating the financing of terrorism (AML/CFT), NBI said in a press release on Friday.

Police officers will take the same course offered to industry experts, apart from various training for officers in various critical verticals of banking and finance so that they are well-equipped to carry out investigative duties, NBI CEO Sanjib Subba said after signing the MoU. 

Due to an increase in overall financial transactions, the crime rate, including off-shore financial activity, has also been increasing, Subba said, adding that the AML/CFT training would therefore help law enforcement agencies to be more effective.

CIB Director Deputy Inspector General Nawaraj Silwal said the MoU would pave the way for police officers to acquire tools and techniques to combat financial crime.

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