
Nepal Stays on the FATF Grey List: Why This Is an Infrastructure Problem, Not Just a Legal One
Nepal just failed to exit the FATF grey list for the second review cycle in a row. Most of the commentary on this treats it as a legal or diplomatic problem. It isn't, mostly. Four of FATF's six conditions for Nepal are fundamentally about visibility — knowing where the risk sits, watching transactions as they happen, tracing assets after the fact. That's a systems and data problem, and it has a different playbook than passing another law.

