Kathmandu: Finance Minister Rameshwor Khanal has stressed that the assets of individuals involved in money laundering crimes must be confiscated immediately to strengthen Nepal’s fight against financial crimes and help the country exit the FATF grey list.

Speaking at a program organized by the Department of Money Laundering on Wednesday, in the presence of representatives from the Financial Action Task Force (FATF) and the Asia Pacific Group (APG), Minister Khanal said Nepal’s progress in controlling money laundering remains weak.

He noted that international bodies have expressed dissatisfaction, stating that despite repeated requests, Nepal’s investigation, prosecution, and law enforcement agencies have failed to present sufficient evidence of effective action. Khanal emphasized that confiscating and selling assets linked to money laundering crimes and presenting such evidence internationally could help Nepal demonstrate real progress.

“The innocent should not be framed,” Khanal clarified, “but the government must take firm action against those involved in money laundering and present concrete evidence of that action to the international community.”

He also pointed out Nepal’s failure to properly identify sector-wise money laundering risks and work effectively to mitigate them. Khanal urged all concerned agencies to remain alert and fully implement reform measures aimed at removing Nepal from the grey list.

Industry Minister Anil Shinhwa said all state agencies share equal responsibility in this effort, while Deputy Governor of Nepal Rastra Bank Bam Bahadur Mishra warned that rising money laundering risks in the banking sector could severely impact the economy.