Nepal sets up round-the-clock centre to combat online financial scams

The government is launching a round-the-clock cyber response centre on Friday to tackle the growing incidence of financial fraud linked to digital banking, mobile wallets, online payment platforms and social media. Representatives from the Nepal Police, Nepal Rastra Bank, banks and financial institutions, payment service providers, telecommunications companies and internet service providers will work together at the centre.

The aim is to freeze money before scammers can withdraw or transfer it, while identifying and dismantling the networks behind the fraud. On Thursday, Nepal Rastra Bank issued a notice asking development banks, finance companies, payment system operators and payment service providers to submit the names, mobile numbers and email addresses of their designated liaison officers.

The centre will operate under strict response deadlines designed to address a major weakness in the handling of online fraud: delays caused by conventional investigation procedures and coordination between multiple agencies, which often leave victims unable to recover their money.