'Money-laundering prevention bill in amendment process to check illicit transactions'

Kathmandu, Feb 27: Minister for Law, Justice, and Parliamentary Affairs Dhanraj Gurung said that a bill to amend some laws relating to the Prevention of Money Laundering and Business Environment promotion has been presented in the parliament for checking illicit transactions.     

Responding to queries raised during in-principle discussions. In today's meeting of the National Assembly Legislation Management Committee, he said the bill has been put forward for amendment process since illicit financial flows have a direct bearing on the national economy and also taking into consideration the recommendations of development partners.   

The Minister further shared that other related laws are also to be amended to make the prevention of money laundering law effective.     

Noting that the main law of the prevention of money laundering has not left anyone bearing the post of benefits unpunished in terms of amassing property, he said the State would seize the illegitimate properties. (RSS)