Tuesday, March 5, 2024

FIC’s new policy on anti-money laundering aims to enhance collaboration in fighting financial crimes

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The Financial Intelligence Centre (FIC) has rolled-out the anti-money laundering and countering terrorism and proliferation financing policy to Western Province with a call on stakeholders to report financial crimes.

Officiating at the state and non-state actors’ dissemination meeting today, Western Province Permanent Secretary, Simomo Akapelwa said the success of the anti- money laundering and countering terrorism and proliferation financing policy will depend on its implementation.

Mr Akapelwa said stakeholders have a critical role to play in ensuring that they report all forms of financial crimes in line with government’s aspirations.

“The new dawn UPND government has prioritized the fight against corruption, money laundering, terrorism financing and proliferation financing. This was demonstrated through the establishment of the financial crimes court, increased funding and policy reforms,” he said in a speech.

Mr Akapelwa said government was committed to upholding international standards on combating money laundering and financial terrorism and proliferation financing.

He said it is gratifying that Zambia has made headway in responding to the international financial action task force recommendations on combating financial crimes by individual countries.

“The policy was in response to the international financial action task force recommendations to have in place anti-money laundering, terrorism financing and proliferation policy by countries,” Mr Akapelwa stated.

And FIC Director in charge of information, communication and technology, Brian Kauzeni said the policy on anti-money laundering was established to enhance collaboration and cooperation in the fight against various financial crimes in the country.

Speaking on the sidelines of the stakeholders’ dissemination meeting, Mr Kauzeni was quick to point-out that the policy gives direction on which laws need to be amended and strategies to be put in place to ensure a more collaborative approach towards combating financial crimes.

“It is a big milestone for the country as we did not have a policy for a long time”, he said.

Zambia launched its first ever anti-money laundering, terrorism financing and proliferation financing policy on February 2, 2023.

The Financial Intelligence Centre (FIC) has embarked on a series of dissemination meetings aimed at creating awareness among various stakeholders.

In Mongu, the meeting attracted representatives from the Chamber of Commerce, Anti-Corruption Commission, and Drug Enforcement Commission among others.

2 COMMENTS

  1. Watchdog institutions in Zambia are just not doing a good enough job. Osama bin Laden’s successors can register a company in Zambia and our watchdog institutions and the security services will have no clue. Look, it’s so annoying.

  2. Let’s hope it’s not used as tool to suppress opposition parties. Everyone must be subjected to investigation without prejudice.

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