NRB gov ernor Dipendra Bahadur Kshetry said that the Money Laundering Act — which is in the offing — has a provision that banks have to notify about transactions over Rs 1 million in order to check money laundering
Despite popular dislike of investigation into their transactions it essential to save the economy, he said. “Money laundering will increase illegal activities and hamper the national economy,” he said adding that the NRB Anti-Money Laundering Unit is all set to check irregularities as the social cost of monery laundering is very high in the long run.
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