Nepal, May 1 -- The government has moved ahead with plans to amend laws related to money laundering through an ordinance route. An ordinance to revise the existing Asset (Money) Laundering Prevention Act, 2008, has been prepared and sent to the President's Office, according to sources at the Office of the Prime Minister and Council of Ministers.

The existing law provides measures to control the legalization of illegally acquired assets and outlines provisions for investigation, punishment, and legal action against such offences. The government is understood to be preparing amendments aimed at making the legal framework more effective.

The Cabinet had earlier decided to introduce eight ordinances simultaneously, which are being forwarded...