Offence of Assets Laundering:

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Any person commits the offence of assets laundering if that person owns, possesses, uses, consumes, utilizes or displays or does any transaction of, the asset obtained, held or possessed directly or indirectly from commission of any or all of the following act/s or offence/s, or the asset further generated from investment of such asset, as a legally earned asset; or transfers or converts so earned asset with an intention to conceal or disguise the source, nature, location, ownership, disposal or rights; or purchases, owns, possesses or uses, consumes or utilizes or does any other transaction of such asset where one has knowledge of the illegal origin of the asset or where there is reasonable ground for one to believe the asset has such origin; or assists directly or indirectly to convert or transfer such asset for the purpose of avoiding legal proceeding against the person who has obtained such asset.
(a) Revenue evasion,
(b) Organized crime,
(c) Financing of terrorist activities,
(d) Offence under existing law on arms and ammunition,
(e) Offence under existing law on foreign exchange regulation,
(f) Offence under existing law relating to homicide, theft, fraud, (cheating) forging of document, counterfeiting, abduction or hostage taking,
(g) Offence under existing law on narcotic drug control,
(h) Offence under existing law on national park and wildlife conservation,
(i) Offence under existing law against human trafficking and transportation,
(j) Offence under existing law on cooperative institution,
(k) Offence under existing law on forest,
(l) Offence under existing law relating to corruption,
(m) Offence under existing law on bank and financial institution,
(n) Offence under existing law on banking offences and penalty,
(o) Offence under existing law on ancient monument conservation,
(p) Offence under any other law or treaty which Nepal is a party to, as designated by the Government of Nepal through publishing a notice in Nepal Gazette

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Offence of Assets Laundering:

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