APG warns Nepal over weak anti-money laundering progress, flags risk of further downgrade from grey list

FATF-linked delegation tells officials to speed up reforms as concerns grow over enforcement gaps, legal changes and limited results in key sectors.

A delegation from the Asia/Pacific Group on Money Laundering (APG), the regional body of the Financial Action Task Force (FATF), has met Nepali officials in Kathmandu and reminded them of areas where the country has failed to make adequate improvements after being placed on the grey list. The delegation warned that failure to address those shortcomings could put Nepal at risk of being blacklisted, instead of being removed from the grey list.