Suspicious transactions increased drastically in commercial banks: Report

KATHMANDU: A report made public recently by the central bank has shown a drastic increase in the suspicious transactions in commercial banks.

The suspicious transactions have increased by 81 percent compared to the previous year.

As per the report, 1, 533 suspicious transitions were reported last year.

There is a provision to report to the concerned authority about the suspicious transactions within three days according to the Prevention of Money Laundering Act.

The commercial banks had reported 2 ,380 suspicious transactions to the authority in the last financial year.

The central bank had received 1, 403 reports of suspicious transactions last year.

Development banks, finance companies, insurance, remittance companies, cooperatives and government agencies among others had reported to the central bank.

According to the report, cooperatives have been witnessing less suspicious transactions in comparison to others.

The transitions will be suspicious if the financial institutions find the source of the property doubtful.


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