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Money Laundering Problems, Their Implications and

Governments Efforts in the Nepalese Contet

!"bstract Copy#

 No$ a days, the concept of $elfare state has been replaced by the ne$ paradigm of change

management% Globally spea&ing, all states are found heavily influenced by the enormous of 

changes that are ta&ing place in every sphere of life% The concept of reinventing the role of 

government by focusing '(tate $ithout government) is being highly emphasi*ed these

days% +reuently occurring opinion as to '$hy $e should to obey the government if it is

not sincere  enough to seise it-s people honestly.' has been the sub/ect of common

discussion every$here% No$, state po$er is thought as public property% 0ence, all $or&s

 performed by  the concerned government need to be transparent and accountable, and that

these should be  based on rule of la$ and people-s participation% In broad spectrum, government

functions in recent years has $itnessed a metamorphosis from it-s emphasis on traditional

$elfare state to a modern good governance system especially in democratic societies to the

good governance  program !G1P#% 2eeping all these phenomenon in mind, Nepal decided to

control corruption of all &inds as and also to correct other elements found in the Nepalese

society In the process of achieving this ob/ective the Government of Nepal has included the

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 bac& system#, depositing small amounts in various accounts, and in non5ban&ing sectors,

such as under ground ban&ing system, criminal cash deposits, real estates dealers, frauds

forgery cases, ecessive layers of financial transactions are eplained% Li&e$ise, counter 

measures for combating it such as legal financial as $ell a7 lll$ enforcement are cited in

 brief% In the third part, the present status of this problem in Nepal, reali*ation and

commitment of Nepal for addressing this problem as $ell as other responsibilities of the

state  to $or& together $ith the regional and international sectors are eamined in the

 Nepalese as $ell as in the global contet% Its effects are felt in society, economy, financial

sectors, eternal stability, and private sector% "t the end, the conclusions are presented% It is

thought that money laundering has been a ma/or stumbling bloc&6 for the creation of purity

in social  system, for effective control of revenue lea&ages and providing effective

governance  resulting in poverty reduction, mitigating the creation of chaos in the social

structure% (o 0is Ma/esty-s Government of Nepal has become uite serious to combat this

 problem effectively% Covering above issues, the author of this paper $ould li&e to present po$er point $ith the  burning issues and $ould li&e to ans$er any ueries of the

 participants of the "ugust gathering, may have in the discussion later%

!(hyam Prasad

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