Social Welfare Council says NGOs not affiliated to it may be vulnerable to money laundering risks
Kathmandu, Jan. 9 -- The Social Welfare Council has pointed out a number of vulnerabilities in the domestic and international non-governmental organisations that receive funds from abroad and which don't come to the council's notice.
In its written suggestions to the Money Laundering, Risk Evaluation Sub-Committee headed by a Home Ministry's joint secretary, the council has said the risks come from banks opening the accounts of domestic and international non-governmental organisations without the approval of the council.
"The transfer of foreign funds meant for an NGO in the name of individuals through the money transfer agencies is another risk," the council stated in a suggestion that the Post obtained from the Home Ministry.
The cou...
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