Officials from different nations gathered in Kathmandu on July 24, 2018 to discuss measures to tackle money laundering through illicit activities.<\/p>\n
Nepal hosted the 21st<\/sup> plenary of the Asia-Pacific Group on Money Laundering (APG) event, which saw more than 500 participants from more than 50 nations.<\/p>\n The event saw key discussions on measures to tackle money laundering and terrorist financing, wherein, experts pitched for usage of advanced technology<\/a> across the regulatory mechanism to tackle illicit flow of money.<\/p>\n As an inter-governmental anti-money laundering body, APG is part of a global network of similar international bodies such as Financial Action Task Force (FATF).<\/p>\n Speaking at the conference, Head of FATF Delegates Kristen Alma said FATF would take necessary steps to tackle virtual currency as they expand further as a safe and secure payment method.<\/p>\n “The FATF will also continue to work on financial and regulatory technologies to combat illicit financing and increase financial inclusion and potentially reduce regulatory and supervisory cost,” says Alma.<\/p>\n The five-day plenary being held between July 21-27, 2018 will also see the discussions on governance, mutual evaluation reports and policy matters, informed APG.<\/p>\n