Wednesday, June 19, 2024

Government launches the National Anti-money laundering Policy

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Government says it is committed to fighting financial crimes ranging from Corruption, Money laundering and terrorism financing which is clearly demonstrated through the various policy and reforms such as the establishment of the financial crimes court.

Ministry of Finance Minister, Situmbeko Musokotwane says in ensuring that this fight is in conformity with the global community, the government is committed to ensure strict compliance to international standards on combating money laundering and the financing of terrorism.

Dr Musokotwane said this in a speech read on his behalf by Attorney General Kabesha Mulilio who is also Anti- terrorism Chairperson during the Launch of the National Anti – Money Laundering and Countering of Terrorist Financing Policy held at Kenneth Kaunda International Conference Centre in Lusaka yesterday.

“The launched policy is the first national policy Anti – money laundering and countering Terrorism proliferation financing policy, this is in response to the financial action task force recommendation to which requires countries to have in place National Anti-Money laundering and countering the financing of terrorism,” he said.

Dr Musokotwane urged the people tasked with the duty to implement the mechanism to do it diligently and ensure that results are recorded to the satisfaction of the people that want a total eradication of the vice from the face of the country.

He said Zambia is a member of international organisations that have ratified a number of protocols that are required to criminalize money laundering and other financial crimes.

Dr Musokotwane noted that the launched sets a roadmap to effectively combat money laundering and the financing of terrorism in the Country.

“That such effects are meant to promote financial integrity in the financial sector as the financial sector is a cartelistic enabler of economic development and the government is working towards measures aimed at protecting the financial sector from the threats of money laundering and financing of terrorism,” he noted.

Dr Musokotwane noted that Zambia has a lot of areas that need urgent attention to ensure full compliance to the financial action task force recommendation.

He called upon all stakeholders involved in the Anti- money laundering and countering the financing of terrorism to ensure that all outstanding issues addressed.

And British High Commission Governance Advisor Markus Weiner said the launch of the National Anti-money laundering and counter terrorism, financing and perforation policy is an important plan to fight corruption in Zambia.

’’We are very happy that we are providing support from the United Kingdom from the British high commission to the Anti-corruption commission (ACC) ,we work together with the international center for assert recovery to operationalize those laws and give meaning to those laws and to work together on investigations and to protect the Zambian from corruption and we are looking forward to a fruitful fight against corruption in Zambia ,” he said.

14 COMMENTS

  1. Go on pretending that you’re clean. The system is on its way and will soon get you. It has information, determination and international support. Someone once said,” you mean I cannot even have half the wealth he has? I have a bit of grey matter also”. He forgot he was running the country and not a business.

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  2. THIS IS A ZRA ISSUE IN TAX COLLECTION
    WHICH THEY ARE DOING NOTHING ABOUT, AND JUST TARGETING A SELECT FEW
    TOO MANY UNCHECKED BUSINESSES
    LIVE STYLE AUDITS IS REQUIRED
    BUT ????? NOTHING DONE ??

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  3. What’s the story with the 48 houses….UPND used to talk about this issue 24/7 whilst in opposition….so now what has changed…..???? and forest 27

  4. ’We are very happy that we are providing support from the United Kingdom from the British high commission to the Anti-corruption commission (ACC) ,we work together with the international center for assert recovery to operationalize those laws and give meaning to those laws and to work together on investigations and to protect the Zambian from corruption and we are looking forward to a fruitful fight against corruption in Zambia ,” he said.”LT

    “Throughout the document [Magna Carta] it is implied that here is a law which is above the King and which he must not break,”
    Sir Winston Churchill

  5. Situmbeko is talking nonsense. You can’t fight crime with a policy but Law. If Laws exist then enforce them, if they don’t then enact them.

  6. This policy is not for Zambians but for western countries. It just makes it harder for Zambians in the diaspora to send money to their relatives. The assumption that $10,000 is too much and it must be funding terrorism is just ridiculous.

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  7. They are trying very hard to look relevant. While campaigning of from the impression the gave electorates, we would have had a number of convictions by now. All we are seeing Chilufya Tayali being arrested and released and zero convictions. Very few cases making it to court and the few that are making it do have any evidence to have a conviction. What are waste of government.

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