Kathmandu, Jan 22:  Deputy Prime Minister and Home Minister Narayan Kaji Shrestha has pointed out the need to make legal and institutional arrangements to curb financial crime. 

Addressing the Crime Investigation Review Seminar organised at National Police Academy, Maharajgunj, today, DPM Shrestha mentioned that necessary legal and institutional arrangements would be made as well as technical and capable human resources developed for the investigation of financial crimes.  

“Information has been received that dealing of billions of rupees is being done through crypto. The government has considered it illegal. Transaction of foreign currencies is being done in a new way. A new trend to open letter of credit (LC) has been seen,” he shared, adding it has created problems in the economy and the use of crypto was also seen in the recent gold scams. 

Underscoring the need to prepare capable human resources to investigate the cryptocurrency, the Home Minister said the government has realized the lack of legal provisions for the same.  

Cases of financial crime and cheating are increasing in society after cooperatives turned into financial institutions deviated from their main purpose, explained Home Minister Shrestha. He further said the government has made preparations to formulate laws to control cooperative fraud. 

The Deputy Prime Minister informed that a process to take action against cooperative owners involved in financial crime and cheating and to give justice to cooperative victims, adding “The government to give justice to cooperative victims and cooperative will be forwarded as the backbone of the economy.”  

Similarly, Attorney General Dr Dinmani Pokharel said a specialized structure should be made to investigate a financial crime at a time when cases of financial crime are increasing in recent periods.  

He emphasized on the need to strengthen investigation, prosecution and justice based on scientific, objective and reliable evidence. 

Likewise, Inspector General Basant Bahadur Kunwar shared that police have started homework to establish a specialized bureau to investigate financial crime, adding Nepal Police was serious about crime investigation. 

Deputy-Mayor of Kathmandu Metropolitan City, Sunita Dangol, stressed the need for capacity building of Nepal Police to face challenges created by digital crime. 

She shared that the KMC is going to impart training on scholarship thinking that capable human resources related to cyber security should be developed. (RSS)