Govt to increase vigilance on real estate transactions to check cases of money laundering

Kathmandu / Aug. 31: The government is considering increasing vigilance on the transactions of land and housing, suspecting the possibility of money laundering in such transactions.

Speaking at a meeting of the parliamentary Finance Committee on Wednesday, Secretary of the Office of the Prime Minister Office and Council of Ministers, Dhan Raj Gyawali said the government is amending some laws related to the transactions of the realty business. According to him, similar measures will be taken to track casinos and hundi transactions.

Nepal Rastra Bank Governor Maha Prasad Adhikari said Nepal is in high risk of being blacklisted due to increasing cases of money laundering. He stressed the need for checking corruption and hundi business, which he said have been flourishing in the country of late.