Kathmandu, Jan. 16 -- Now that the Nepal Rastra Bank has made it mandatory for commercial banks to report suspicious transactions and transactions above the governmental threshold via the goAML software, the Financial Information Unit, effective from Wednesday, will no longer receive manual reports.

The Financial Information Unit, an independent body headed by a central bank official, is responsible for receiving, processing, analysing and disseminating financial information and intelligence on suspected money laundering and terrorist financing activities.

The goAML software was built by the United Nations Office of Drugs and Crime to specifically meet the Financial Information Unit's data collection, management, analysis and statistica...