Nepal implements new money reporting threshold for casinos

Summary

Nepal has ordered casinos to report any single patron’s transactions totalling NPR1 million (about $7,400) or more within a 24-hour period. The Department of Money Laundering Investigation issued the directive as part of wider measures to address concerns flagged by the Financial Action Task Force (FATF), which added Nepal to its grey list earlier this year.

The government has also tightened operational rules for gaming venues: continuous 24-hour surveillance with six-month retention of footage, five-year retention of visitor records, biometric entry systems, stronger KYC and AML protocols, and an increase in minimum paid-up capital for operators from NPR150 million to NPR200 million.

Context and relevance

The move is a response to the FATF grey-listing in February, which cited weak monitoring of financial flows and risks tied to corruption and tax evasion. Grey-list status can harm a country’s reputation and deter foreign investment, so Kathmandu has rolled out a seven-point plan to strengthen detection, prosecution and sanctions related to money laundering and terrorist financing.

Key Points

• New reporting threshold: casinos must report individual patron transactions of NPR1 million ($7,400) or more within 24 hours.
• Directive comes from Nepal’s Department of Money Laundering Investigation as part of AML efforts.
• Strengthened operational rules: 24-hour game surveillance, six-month footage retention and five-year visitor record retention.
• Biometric ID at entry and enhanced know-your-customer (KYC) protocols are now required.
• Minimum paid-up capital for casino operators increased to NPR200 million (from NPR150 million).
• Nepal was grey-listed by the FATF in February; the government has introduced a seven-point plan to improve AML and counter-terrorist financing compliance.

Why should I read this?

If you work in casinos, compliance or financial services in Nepal (or the region), this matters — fast. These rules change reporting, surveillance and capital requirements and could directly affect operations, costs and licensing. Basically: it’s a compliance wake-up call, and we’ve saved you the legwork.