Added At:  2011-03-02 2:58 PM

http://www.thehimalayantimes.com/fullNews.php?headline=Orientation+on+money+laundering+launched&NewsID=278366

BIRGUNJ: The Revenue Administration Training Centre, Kathmandu and Birgunj Chamber of Commerce and Industries jointly organised a seminar on orientation on money laundering in Birgunj on Wednesday.

The seminar was organized with a view to creating awareness among the business entrepreneurs for the effective implementation of the Act on Prevention of Money Laundering. The Act came into effect on January 28, 2008 to check money laundering.

They stressed making necessary arrangements for legal management, for information system, for skilled human resources, organizational structure, right working condition and coordination with the concerned bodies. They said sharing of experiences in regional and global level was necessary to make the campaign a success.

On the occasion, Joint-Secretary at the Ministry of Finance Rajendra Nepal stressed on effective implementation of the Act on Prevention on Money Laundering. All should have coordination and unity for this, he said.

Nepal said property should be earned honestly saying the government should control the laundering of the assets earned through criminal activities.

Assistant Director of Nepal Rastra Bank Ramsharan Pokhrel and the centre’s member Basudev Sharma said the problem of money laundering through criminal activities and illegal process is growing in Nepal in the recent years. Pokhrel said there are many people involved in capital flight and money laundering.

The Chapter’s Chairman Ashok Kumar Temani chaired the seminar where around 80 participants including the industrial entrepreneurs, bankers, customs and revenue officials participated in the seminar.