Anti-money laundering grouping asks Nepal to curb private sector corruption.

The Asia Pacific Group on Money Laundering has pointed out Nepal's failure to criminalise corruption involving the private sector as one of the country's deficiencies in complying with the standards on anti-money laundering and terrorist financing, a senior government official said.

Nepal's existing anti-corruption laws-the Prevention of Corruption Act-2002 and the Commission for Investigation of Abuse of Authority Act 1991-criminalise corruption involving the public sector. Bills to amend these laws registered at the National Assembly three years ago will also fail to criminalise corruption involving the private sector. Nepal's constitution authorises the CIAA, the anti-corruption authority, to investigate and prosecute only the malpractices involving public officials.

However...