FATF grey list

Senior officials have concluded that Nepal is certain to be put on the Financial Action Task Force's (FATF) ‘greylist’ during an upcoming meeting owing to weakness in implementing the commitments to prevent money laundering and other reforms. Nepal narrowly escaped being greylisted in July 2023 during the 23rd annual meeting of the Asia Pacific Group on Money Laundering and was granted an extension until October 2024 to fulfill the necessary criteria to prevent such a scenario. A meeting in Paris next month will make the final decision.