Five-Year AML Strategy

The government has come up with a five-year strategy to fight money laundering and terroristfinancing. According to this Anti-Money Laundering (AML) strategy, legal provisions are being amended to allow the government authority to seize black money. It has also incorporated institutional and policy reforms detailing the activities and responsibilities of different government bodies.

This follows increasing pressure from the international community to make such law. Latest such pressure came a couple of weeks back from the meeting, of Financial Action Task Force (FATF) held in France.