The Nepal Rastra Bank's (NRB) Strategic Analysis Report 2024 has revealed that students aged 18 to 24 account for the majority of individuals involved in cyber-enabled fraud. The report highlights that most suspicious transactions were committed within three months of opening the accounts in question.

The NRB said this year's analysis focuses on methods and trends in cyber-assisted fraud, including gift and parcel scams, social media deception, fake online trading platforms, OTP fraud, and lottery scams. It also examines the misuse of social media and payment system features to launder illicitly obtained funds.

Prepared under the Anti-Money Laundering Act, 2064 BS (2008), the report provides updates on financial crimes and their impact. It outlines the growing reliance on cyber tools for fraudulent activities, offering detailed recommendations for law enforcement, investigation agencies, regulatory bodies, and reporting institutions to curb these crimes.

The report underscores the need for collective national and international efforts to minimize cyber-enabled fraud. The NRB presented the report to the Government of Nepal on Sunday, in line with the legal requirement for an annual review of anti-money laundering trends and activities. -- RSS