Financial Intelligence Unit - the official site of the Central Bank of Nepal

Financial Intelligence Unit

Central Office

Baluwatar, Kathmandu

Telephone:

977-01-5719653

Email:

fiu@nrb.org.np

Key Functions

To receive information relevant to Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF) from Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs), jointly called as Reporting Entities (REs). Reports are received in the form of Suspicious Transaction Report (STR), Suspicious Activity Report (SAR), Threshold Transaction Report (TTR) and other additional information.
To receive details of currency and bearer negotiable instruments pursuant to this Act.
To analyze and assess the information received from REs.
To disseminate intelligence on suspicious and other relevant information to the relevant Law Enforcement Agencies (LEAs) for further investigation, regulatory/supervisory authorities for regulatory actions.
To provide guidance and feedback to the REs, regarding the reporting through goAML system of FIU-Nepal.
To make aware to REs regarding their legal obligations under the Act, rules, regulations, directives etc.
To conduct training, awareness and other outreach programs for its staffs and other stakeholders to enhance their knowledge and capacity to combat ML/TF/PF.
To impose fine to REs in case they fail to submit reports/information to FIU-Nepal within specified time or breaches the confidentiality.
To develop information exchange mechanism with other FIUs or related international institution though secured platform of EGMONT group or by entering into Memorandum of Understanding (MoU) or membership.

Principal Officers

Director(s)

Mr. Bashu Dev Bhattarai

Deputy Director(s)

MR. KESHAV PRASAD RIMAL

MR.SWORUP SHRESTHA

MR. BISHNU PRASAD GURAGAIN

FIU Introduction

Financial Intelligence Unit (FIU-Nepal) has been working as a central focal point of Nepal’s Anti-Money Laundering (AML) regime to combat Money Laundering (ML), Terrorism Financing (TF) and Proliferation Financing (PF). It was established on 21 April, 2008 under the section 9 of the Assets (Money) Laundering Prevention Act (ALPA), 2008 as an autonomous unit.

It is a national agency responsible for receiving financial information on suspected ML/TF/PF transactions and activities from Reporting Entities (REs), analyzing it and disseminating such intelligence to the relevant Law Enforcement Agencies (LEAs) for further investigation, regulatory/supervisory authorities for regulatory actions. FIU-Nepal also request and send financial information to/from foreign FIUs for intelligence purpose via EGMONT Group’s Secure Web.

FIU-Nepal works as the secretariat of the Coordination Committee (CC) formed as per Assets (Money) Laundering Prevention Act (ALPA), 2008 and head of FIU-Nepal is a member-secretary. Furthermore, head of FIU-Nepal is one of the members of Regulatory Coordination Mechanism (RCM), Investigation Coordination Mechanism (ICM), Counter Terrorism Mechanism (CTM) and Technical Group which is formed as per National Strategy and Action Plan.

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