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FINANCIAL INTELLIGENCE UNIT OF NEPAL VISITS PDEA

PR1352016A delegation from the financial intelligence unit of Nepal recently visited the Philippine Drug Enforcement Agency (PDEA), to have a better understanding about the country’s anti-drug campaign, the agency as an organization and its best practices in combating money-laundering activities.

PDEA Director General Undersecretary Arturo G. Cacdac, Jr. said that the delegates from Nepal headed by Undersecretary Man Bahadur Aryal of the Ministry of Law Justice and Parliamentary Affairs and Deputy Director General Rejandra Kumar Paudel of the Department of Money Laundering Investigation visited PDEA on Thursday, March 17, 2016. 

“We are honored to have as guests our counterparts from Nepal. Their visit to the PDEA National Headquarters in Quezon City served as an avenue to present the national drug situation and the current drug trends affecting the country and, at the same time, share relevant information on how the agency handles suspected money launderers who “wash” their illegal transactions and proceeds routed through banks and other financial entities,” Cacdac said.

“Realizing the covert and transnational nature of money laundering, PDEA will be closely working with regional and international counterparts to arrest and prosecute money launderers and expose their illicit activities,” he added.  

As the country’s organization which prosecutes money-laundering offenses, the Anti-Money Laundering Council (AMLC) initiates financial investigation of suspicious bank transactions of arrested drug personalities referred by the PDEA.

In the Philippines, a huge percentage of laundered money usually comes from the production and trafficking of dangerous drugs.

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