Monday, June 17, 2024

ACC Restricts K28 Million in Treasury Bills Suspected of Being Illicit Proceeds

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The Anti Corruption Commission (ACC) has taken action to freeze K28 million held in treasury bills, suspecting the funds to be proceeds of crime. ACC Director General Tom Shamakamba announced that an investigation is underway into an individual who suddenly came into possession of such a significant amount of money.

Director General Shamakamba made the announcement during the Zambia Fraud Symposium held in Lusaka today, organized by Stanbic Bank and the Bankers Association of Zambia (BAZ). The symposium serves as a platform for stakeholders to address and find solutions to issues related to fraud and financial crimes.

Meanwhile, Bank of Zambia Governor Denny Kalyalya expressed concern over the rise in Ponzi schemes, which are in violation of the Banking and Financial Services Act. These schemes operate without the required licenses and expose the public participants to potential liability. Dr. Kalyalya’s remarks were delivered by BOZ Deputy Governor of Operations, Dr. Francis Chipimo.

In his address, Drug Enforcement Commission Director General Nason Banda urged financial institutions to exercise caution and refrain from sharing confidential information with unauthorized individuals. He emphasized the existence of well-organized criminal networks and the importance of safeguarding sensitive data to prevent illicit activities.

Similarly, Leah Tembo, the Acting Director General of the Financial Intelligence Center, highlighted the need to assess risks involved in combating financial crimes. She emphasized the significance of allocating resources strategically to effectively address and mitigate these threats.

13 COMMENTS

  1. HH can you fire… Nason Banda, The Drug Enforcement Commission Director General…..

    Can you also fire… Leah Tembo, The Acting Director General of the Financial Intelligence Center…..

    ……All these are rats and monkeys. People from Luapula, Eastern & Northern Provinces must not hold positions in government . Give these position to pure Tonga People……..

    Lets make Tonga the second official language in Zambia after English……

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  2. Thanks for giving us this news. And please follow this story closely, it might be the money they scummed us on FUD. We’re over 20,000 members who has been scummed.

  3. How does such an amount seized only be announced at a BAZ symposium meeting? At the same time the MoF theft of money was covered up because it was in the orbit of inner circle. Selective exposure.

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