Kathmandu. A training program on the growing risk of money laundering in the capital market is going to be conducted. Nepa Skill Academy is organizing the program targeting securities brokers (broker) companies and merchant bankers. 

The event titled ‘Behind the Trades: Uncovering Money Laundering Risks in Nepal’s Capital Market’ will be heldon May 13 from 1 pm to 7 pm at The Plaza in Lalitpur. 

The event will discuss AML/CFT risks, regulatory liability, suspicious transactions and legal provisions related to Nepal’s capital market, according to the organizers. 

According to the organizers, in the first session of the program, trainer CA Ashim Bhatt will facilitate on ‘Practical AML Risks in Brokerage Operations’. In the same session, there were circular trading, pump and dump, abnormal turnover growth, beneficiary tendency to hide ownership, multiple and Mule accounts, and fund flow analysis. The topics will be covered.

Similarly, in the second session of the program, the Director of the Securities Board of Nepal (SEBON) will give a presentation on ‘Regulatory Compliance & Broker Obligations’. Broker Applicable to Companies AML/CFT Provisions, KYC, CDD, Beneficiary Honoreeship Provisions, Discussion will be held on the monitoring obligations under the capital market regulation and the general weaknesses seen in course of the inspection. 

In the final session, Deputy Attorney General of the Government Attorney’s Office, Sanjeev Raj Regmi, will facilitate on the topic ‘AML/CFT Risk Landscape in Nepal’s Capital Market’.He will also inform about the legal framework related to controlling money laundering in Nepal, the role of brokers in the capital market, facts related to National Risk Assessment and weaknesses seen in the reporting of the STR .

The event is expected to be attended by representatives from the capital market sector, broker companies, merchant s, bankers, compliance officers, investors and professionals from the concerned sector.