Gold traders trained to use goAML software

By A Staff Reporter,Kathmandu, Aug. 5:The Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) has conducted training for gold and silver traders affiliated with the Federation on the operation of goAML software. The training was provided to the gold traders in collaboration with the Financial Information Unit (FIU) of Nepal Rastra Bank (NRB).

President of FENEGOSIDA Manik Ratna Shakya said that goAML software has been launched in Nepal in the current situation when different types of new technologies are being used in the world market as part of the money laundering campaign.

He said that this kind of software is being used in different countries of the world with the aim of helping in money laundering and discouraging financial investment in terrorist activities.

Businessmen from various districts and provinces across the country participated in the training, according to the FENEGOSIDA.

 In that sequence, the businessmen were informed about the goAML software and its introduction, requirements and obligations and responsibilities of the businessmen.

During the training, Keshav Prasad Rimal, chief of the Financial Information Unit of NRB, informed about goAML software and its necessity.

Deepak Parajuli, an IT expert from NRB, briefed the businessmen on the goAML software and its usage.

According to him, among the gold and silver businessmen in Nepal, the businessmen who deal with Rs. 1 million or more at one time should fill in the details of the person doing such business through goAML software.

That information reaches the financial information unit of the central bank. Based on that, if there is a suspicious transaction, the NRB will conduct further investigation and recommend it to the relevant agency for investigation.

The goAML is an integrated software for providing financial information. This software has been implemented under the United Nations Office on Drugs and Crime (UNODC) programme.

It is an intelligent information management system that collects, manages and assists with the analysis of data submitted by reporting entities and other organisations.