APG’s 2nd Follow-Up Report on Nepal finds that while legal and supervisory AML/CFT reforms have progressed, significant gaps remain in effective enforcement, investigations, and BO transparency

The follow-up report reviews Nepal’s efforts to address deficiencies across Recommendations 6, 7, 24, 25, 26, 28, 34, and 40, concluding that reforms and implementation measures do not yet justify technical compliance upgrades. APG also highlights broader concerns around risk assessment updates, supervision of non-financial sectors, beneficial ownership transparency, and the operational effectiveness of Nepal’s AML/CFT framework, resulting in continued intensified monitoring…