Overview of the Measures to Combat Economic Crime Including Money Laundering in the Context of Nepal (From Resource Material Series, No. 67, 216-223, 2005 -- NCJ-214096)

• NCJ Number: 214110
• Author(s): Suryanath Prakash Adhikari
• Date Published: December 2005
• Length: 8 pages
• Sale Source: United Nations Asia and Far East Institute for the Prevention of Crime and Treatment of Offenders
• Publication Format: Book Chapter
• Publication Type: Issue Overview
• Language: English
• Country: Japan

Annotation

This paper highlights measures implemented to combat economic crime, including money laundering in Nepal.

Abstract

Even though legislation dealing with economic crimes has been enacted in Nepal, it is inadequate to cope with the complexity of the problems that have arisen by the globalization of economic activities, facilitated by modern technology. There is a need to update and revamp most of the legislation. In addition, there are areas where no law exists, such as the case for money laundering. Separate legislation targeted in the fight against money laundering is necessary. Also, the ratio of convictions for economic crime is not satisfactory. This paper discusses various economic crimes in Nepal, specifically corruption, fraud, tax evasion, counterfeiting, trafficking of human beings, drug trafficking, and money laundering and the measures undertaken, through legislation to combat these economic crimes.