Kathmandu, Feb. 14 -- Nepal Rastra Bank Governor Maha Prasad Adhikari said last month that an assessment by the Asia/Pacific Group on Money Laundering (APG) had put Nepal at risk of being placed on the grey list of the Financial Action Task Force (FATF), the global money-laundering watchdog.
The final decision will be made during the FATF plenary 17-21 February in Paris. The country was previously greylisted from 2009-2014.
The watchdog had advised legal, policy and structural reforms for Nepal to implement within a year. And while some laws were amended, implementation is another story.
"Nepal's FATF rating has deteriorated due to the inaction against major cases of corruption, tax evasion, and abuse of financial institutions," expl...