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The Financial Information Unit of Nepal Rastra Bank has published the 'Strategic Analysis Report 2024'.
The report prepared by the unit on cyber-enabled fraud this year has been submitted to the government and made public today.
In clause (a) of section 10 of the Prevention of Money Laundering Act, 2064, there is a provision to submit an annual report to the Government of Nepal through the Rashtra Bank, including the details of the type of crime related to money laundering and financial investment in terrorist activities, including the techniques, methods and tendencies of committing the crime. is
The report discusses the characteristics of fraud based on cyber technology and the methods used in laundering the assets obtained through such fraud. In addition, the report has also analyzed the misuse of features in social networks and payment systems in those frauds. In the
report, suspicious transaction details related to cyber-based fraud received in the first five months of 2024 have been analyzed in detail. From the said analysis, it has been seen that people in the age group of 18 to 24 years and people mentioned as 'student' in profession are most involved in this type of suspicious transaction.
Similarly, in most of the suspicious accounts, it has been found that suspicious transactions have taken place within three months of the operation of such accounts. For fraud based on cyber technology, it has been found that methods such as gift and parcel fraud, fraud through social networks, false platforms related to online business, OTP fraud, lottery fraud etc. have been used. Based on the findings of the
report, necessary suggestions have been recommended to the reporting organizations, law enforcement agencies, research agencies, and regulatory and supervisory agencies to reduce fraud based on cyber technology. Also, the efforts made in the international world to reduce such fraud have also been discussed.
