From American Banker April 18, 2014 TBTF Feedback: "Too big to fail" is fading in...
Asset (Money) Laundering Prevention Act No. 34
(enacted in 2008)
The Asset (Money) Laundering Prevention Act No. 34 of 2008 regulates the prevention of laundering of criminally earned assets in Nepal.
This act discusses the following:
- Chapter 1 Preliminary: defines language within the act;
- Chapter 2 Provisions relating to offenses;
- Chapter 3 Provisions relating to identity, transactions, and details of customers;
- Chapter 4 Provisions for coordination committee and financial information unit;
- Chapter 5 Provisions for formation of the department and its functions, duties and powers;
- Chapter 6 Provisions for investigation and inquiry;
- Chapter 7 Punishment; and
- Chapter 8 Miscellaneous.