Rule 6
Functions, Duties And Power Of The Financial Information Unit
In addition to the functions, duties and power stated in Section 10 of the Act, the functions, duties and power of the Financial Information Unit shall be as follows:
(a) Function as a focal point for the prevention of money laundering;
(b) Write to the concerned organization to freeze the property for 30 days at maximum if the analysis of the transaction or the information, particulars received from the reporting institution presents reasonable ground to believe that the property involved in the suspicious transaction is likely to be transferred, sold or in any manner transformed or changed unless frozen at once;
(c) Install and operate electronic information network for the control of the offence;
(d) Receive information from the regulatory body on whether or not the reporting institutions regulated by the concerned regulatory body has acted in accordance with the Act, these Rules and the Directives;
(e) Share with the reporting institution and the regulatory body the information received from foreign state or international organizations regarding the individuals and organizations involved in the offence and the states with weak mechanisms for controlling the offence;
(f) Sign Memorandum of Understanding with the Financial Information Unit of other country for the purpose of Section 10 (1)
(d) of the Act;
(g) Obtain, as an FIU, membership of international organizations working for the prevention money laundering;
(h) Conduct or cause to conduct training, seminar, study, research and make publication and transmission about the offence and its control in coordination with the regulatory body, bank, financial institutions and non-financial institutions so as to promote public awareness;
(i) Prepare and submit long term action plan to the coordination committee and annual action plan to Nepal Rastra Bank;
(j) Maintain record of the information and particulars relating to the tasks the FIU performs;
(k) Submit annual FIU report of performance to the coordination committee and Nepal Rastra Bank within three months from the completion of the fiscal year;
(a) Function as a focal point for the prevention of money laundering;
(b) Write to the concerned organization to freeze the property for 30 days at maximum if the analysis of the transaction or the information, particulars received from the reporting institution presents reasonable ground to believe that the property involved in the suspicious transaction is likely to be transferred, sold or in any manner transformed or changed unless frozen at once;
(c) Install and operate electronic information network for the control of the offence;
(d) Receive information from the regulatory body on whether or not the reporting institutions regulated by the concerned regulatory body has acted in accordance with the Act, these Rules and the Directives;
(e) Share with the reporting institution and the regulatory body the information received from foreign state or international organizations regarding the individuals and organizations involved in the offence and the states with weak mechanisms for controlling the offence;
(f) Sign Memorandum of Understanding with the Financial Information Unit of other country for the purpose of Section 10 (1)
(d) of the Act;
(g) Obtain, as an FIU, membership of international organizations working for the prevention money laundering;
(h) Conduct or cause to conduct training, seminar, study, research and make publication and transmission about the offence and its control in coordination with the regulatory body, bank, financial institutions and non-financial institutions so as to promote public awareness;
(i) Prepare and submit long term action plan to the coordination committee and annual action plan to Nepal Rastra Bank;
(j) Maintain record of the information and particulars relating to the tasks the FIU performs;
(k) Submit annual FIU report of performance to the coordination committee and Nepal Rastra Bank within three months from the completion of the fiscal year;