Nepal's Financial Intelligence Unit (FIU), the national agency responsible for analyzing suspicious financial transactions, has reported a 49 percent surge in suspicious transactions in 2024, the state-run national news agency RSS reported.

Citing the FIU Activity Report 2024 released by Nepal Rastra Bank (NRB) on Tuesday, RSS said the number of suspicious transaction and activity reports submitted by reporting institutions under the Anti-Money Laundering Act, 2064 (2007) rose from 6,255 in 2023 to 9,304 in 2024.

During the review period, 1,894 reports were analyzed, of which 1,086 were forwarded to relevant law enforcement and regulatory bodies for further investigation, reads the news report published by RSS. An additional 808 cases were retained for future analysis, should further information emerge.

The volume of transaction data reported to the FIU also increased. In 2023, institutions submitted 1.78 million transaction records, while in 2024, the number rose to nearly 1.97 million. These include both domestic and cross-border transactions.

The number of reporting entities and institutions engaged in anti-money laundering efforts has also grown. The FIU stated that entities registered under the GoAML system—a global standard for AML data reporting—expanded from 1,496 in 2023 to 1,905 in 2024. These institutions include banks, insurance companies, cooperatives, remittance firms, and law enforcement agencies.

According to NRB, the Financial Intelligence Unit-Nepal (FIU-Nepal), established in April 2008 under Section 9 of the Assets (Money) Laundering Prevention Act, functions as an autonomous body within the central bank.

It serves as the central agency for collecting, analyzing, and disseminating information related to suspected money laundering, terrorism financing, and proliferation financing. The FIU coordinates with domestic law enforcement and regulatory agencies and exchanges intelligence with international counterparts through the Egmont Group, NRB added.