Kathmandu. Banking transactions are considered very sensitive. With the increase in the use of technology, the incidents of banking fraud through electronic means are also increasing in recent times.
On the other hand, cases of unauthorized opening of bank accounts and payment of money are also coming to light. However, provision has also been made to take action against those involved in such illegal activities as per the Banking Offences and Punishment Act, 2064 BS.
Pal Rastra Bank has issued a notice for financial awareness today. “It is not necessary to knowingly open an account by submitting a fake document or to open an account by submitting such documents, or to deposit money in such account, get it done or transfer money to another person’s account or withdraw money from such account or assist in that act or open the same account using electric card or equipment.” the notice said.
Similarly, the central bank has clarified that no account should be opened or opened in the name of any other person or organization except in accordance with the law. “If anyone commits any such offence, he or she can be fined and imprisoned for up to three months,” the notice reads.
Nepal Rastra Bank (NRB) has appealed to the banks to avoid unauthorized banking transactions and legal punishment.
