Role and Functions of FIU in AML/CFT Regime with Reference to Nepal

Abstract

FIU is one of the national institutions established to combat money laundering, terrorism financing, and other financial offense. Its main functioning is to collect, analyze and disseminate the information derived in accordance with the law. If there is the presence of regulatory authority, those authorities have to analyze the information. In the absence of it, FIU has to be active. Nevertheless, the function, power, and responsibility vary from FIU type. Ultimately, every kind of FIU has the duty and responsibility of information analysis and recommendation to concerned authority to make necessary actions.

Keywords: Financial inteligence unit, money laundering, terrorism financing, regulatory authority