India & Nepal Conclude First-ever Joint Anti-Money Laundering Meeting

• 09 May 2024

On 8th May 2024, India and Nepal wrapped up the inaugural bilateral meeting between their anti-money laundering agencies, focusing on border security against financial crimes.

Key Points

• Agency Representatives: Delegations from Nepal's Department of Money Laundering Investigation (DMLI) and India's Enforcement Directorate (ED) led the discussions.
• Legislative Overview: Both sides presented their anti-money laundering legislations, exchanging insights and strategies to combat financial crimes.
• Case Studies and Strategies: Presentations included case studies and discussions on common money laundering schemes and effective investigation tools.
• Global Concern: Emphasis was placed on the global threat of money laundering to security, stability, and economic prosperity, particularly across the porous India-Nepal border.
• Agreement for Cooperation: The agencies agreed to strengthen cooperation through information sharing, coordination, and capacity building efforts.
• Draft MoU: Discussion was also held on a draft Memorandum of Understanding (MoU) between ED and DMLI for enhanced cooperation in money laundering investigations.