Kathmandu, November 18
The Nepal Rastra Bank (NRB) has released its Strategic Analysis Report 2024, highlighting an alarming rise in cyber-enabled fraud, particularly among students.
The report, prepared under the Anti-Money Laundering Act, 2064 BS (2008), examines trends, methods, and procedures linked to money laundering and cyber fraud. It underscores the misuse of social media platforms and payment systems as key enablers of such offences.
Data from the first five months of 2024 reveals that individuals aged 18–24, predominantly students, are most frequently implicated in suspected fraudulent transactions. Notably, these transactions are often conducted within three months of opening the associated bank accounts.
The report identifies various fraud types, including gift and parcel scams, social media scams, fake e-commerce platforms, OTP fraud, and lottery fraud.
In response, the NRB has provided targeted recommendations for regulatory bodies, law enforcement agencies, and financial institutions to curb such activities. The report also emphasizes the importance of aligning Nepal’s strategies with international efforts to combat cyber-enabled fraud.
This comprehensive analysis aims to guide policymakers in addressing the growing threat posed by cybercrime, ensuring greater financial security in Nepal.
