Indo-Nepal Cooperation to counter Money Laundering
India is helping Nepal improve capacity to fight flow of dirty money.
"Indian government approved a ‘Capacity Development Programme’ for the officials of Department of Money Laundering Investigation (DMLI) and other stakeholder ministries to counter the challenges of money laundering and terrorist financing," according to a statement issued by India's Ministry of External Affairs today.
The Department of Money Laundering Investigation – one of the key investigative units to check money laundering, terrorist financing and other forms of earnings from illicit or criminal activities – was established in 2011 as a regulatory body for the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime.
The programmes are aimed at strengthening institutional capacity development of concerned departments, the statement said, adding that the programme is designed to cover the evolution of Prevention of Money Laundering Act, evaluation process by Financial Action Task Force (FATF), intelligence collection methodology, procedure for registering and investigation cases under Prevention of Money Laundering Act, tracing proceeds of crime, terror financing, international co-operation and other relevant topics.
The first of its kind programme that is being conducted in three phases – Experience Sharing and High Level Interaction for Senior Officials, Advance Course for Investigation Officers and Basic Course for junior staff – will see some 60 government officials in the courses to be held in New Delhi.
The officials from Department of Money Laundering Investigation, Financial Information Unit under the central bank, Attorney Office, Finance Ministry, CIAA, Home Ministry, Central Investigation Bureau and other departments will brainstorm with the senior Indian officials from the Enforcement Directorate, FATF Cell and Ministry of Home Affairs.
The first batch of 10 officers attended the first phase of the programme and shared their experience in New Delhi on July 21-25.
The remaining two programmes will spread over six weeks between August and September, the press note from Embassy of India in Kathmandu read.