Money Laundering Investigations Limited to Cases Involving Over One Crore

Money Laundering Investigations Limited to Cases Involving Over One Crore

The Office of the Attorney General has announced that money laundering investigations will now be conducted only in cases involving financial losses or assets exceeding one crore. Following the amendment of the Money Laundering Act 2064 last year in Chaitra, the authority to investigate and prosecute money laundering cases has been expanded from the Department of Money Laundering Investigation to include the Commission for the Investigation of Abuse of Authority (CIAA) and the police. According to Attorney General Ramesh Badal, this expansion of authority ensures that money laundering charges will not be filed arbitrarily and that investigations will be more systematic.

Speaking at a program organized on Friday to mark National Money Laundering Prevention Day, Attorney General Badal stated that even though the number of investigating and prosecuting bodies has increased, there is no need for anyone to fear this change. He clarified that money laundering charges will apply only to cases involving damages exceeding one crore and will not be applicable to cases with lesser amounts. The program, organized as part of the tradition of observing Magh 14 as National Money Laundering Prevention Day, also included discussions on this topic.