Lusaka, Zambia, 4th June 2018 – We wish to state that there is nothing wrong with the Financial Intelligence Centre (FIC) if it plays the role it was established for.
The Finacial Intelligence Unit was established in November 2010 by an Act of Parliament. It’s a national agency designated and mandated to receive, request, analyse, and disseminate disclosure of information concerning money laundering, terrorist financing, and other serious suspected crimes to competent authorities for purposes of investigations.
According to the Act that establishes the Centre (Financial Intelligence Centre No. 46 of 2010 and Act no.4 of 2016) the FIC gathers this information from banks, financial institutions and others but must submit such information to law Enforcement Agencies and investigative wings and similar foreign entities related to cross border and international crimes.
We have however noted with concern Mr Elias Chipomo, an Oxford university lawyer, who is on a clear mission to mislead and misinform the general public.
Indeed If Mr. Chipimo was serious, he would have known that the Financial Intelligence Centre exists to collect raw information and as such it’s reports are nothing but intelligence reports whose contents are not prosecutorial in nature. Reports by FIC are not prosecutorial in nature and any lawyer knows it!
Mr. Chipimo ought to know that there are reports pointing to the FIC sending demands that lawyers or their accountants should disclose financial transactions related to their clients and such details should also include source of funds for amounts and business transactions above $5,000.00.
Mr. Chipimo ought to know that there are reports pointing to the FIC requesting selected estate agencies to disclose to them any civil servants above the position of Assistant Directors, Ministers and any magistrates and judges, who had recently bought a property.
Mr. Chipimo ought to have known that the order to compel banks to report all client’s transactions beyond the threshold of $5,000.00 has also instilled fear that businesses might begin to conduct transactions outside the banking and formal systems thereby creating a thriving black market and parallel economy.
Mr Chipimo should have known that in the manner FIC seeks to conduct itself, many have expressed concern whether this was the reincarnation of the feared Special Investigations Team for Economy and Trade (SITET) under UNIP, a terror monster used by the then one-party-state to terrorise businesses and political enemies under the cover of investigating economic crimes.
Mr. Chipimo ought to know that the Financial Intelligence Centre (FIC) is exactly that! An intelligence arm of the state specialising in gathering and providing information related to suspected financial and economic crimes and also help alert or flag financial support to terrorism activities.
But contrary to innuendos by Mr. Chipimo and others, the FIC:
1. Is not a law enforcement agency;*
2. Its information is raw and not prosecution material as it is intelligence information and usually sourced from third-parties. This information however, is actionable, but would require further investigations and verification to make it meet the pre-trial stage standard. At this stage, like all intelligence information it is not fit for prosecution but for information and leads.*
3. This information has to be further processed and should not be put out to the public as it alerts the alleged criminal suspect and also endangers opportunities and effort to a successful prosecution.
Many are concerned at the grand-standing and populist manner the FIC has taken to even jeopardise in its work by making these unverified, un-researched information to the gallery.
Its own law that regulates the Unit mandates to provide it provide its findings to competent authorities (law Enforcement Agencies) and the Act forbids publication of this information to the public.
The Act provides that the Board is appointed by the President. He appoints the Chairperson and four persons with the experience in law, financial analysis, accounting, forensic auditing and financial investigations.
From the above it is clear that the Board is qualified enough even without reminding them of the law to work in a professional manner.
But Mary Chirwa-Tshuma contends that Act No.4 of 2016 section 3(e), (i) and section 5 (h) and (j) empowers FIC to make the findings public only if FIC protects the identity of such persons or entities. Ms Tshumba states that her reports will be rendered irrelevant if she publishes them but is not acted upon by Law Enforcement Agencies.
But this is not true as after every Trends Report the FIC has put out, there comes a leakage of names and entities.
Ms Tshuma knows that she is grandstanding with *Raw information*, *Unverified information* and *Information that requires follow up with Law Enforcement Agencies*. She knows *FIC is NOT a law enforcement agency*. She knows *FIC has no powers to prosecute or even call witnesses*.
Lastly, we challenge FIC which seeks to play to the gallery to tell Zambians what they have done about exposing the Saturnia offshore accounts. We challenge them to tell Zambians whether they have any information on the Paradise papers, and whether there are any Zambians involved, and if so the extent of involvement.
Issued by:
Sunday Chanda
PF Media Director
Party Headquarters
Elias is an incorrigible failure.
Look who is talking. This Sunday Chanda guy is clueless surely. Chipimo’s comments are derived from the report, don’t kill the messenger please
This is rubbish from Sunday Chanda as usual. The law that established the FIC designates the LAZ, ZICA, etc as regulatory bodies which are required to enforce know-your-client rules by ensuring that these clients are not used to launder dirty money. The FIC is a state organ, as is the Auditor General, but it’s an orphan as the govt of the day wishes it didn’t exist. This explains why key officers have not yet been confirmed in their positions. Acting auditor-general basically being told indirectly ” go ahead and show some courage in that job and we shall see who will confirm you”.
Sunday Chanda is RIGHT
Chipimo is a lemon, and his reason of existence politically is well passed it.
He offers nothing and should fold his political party as soon as he can.
Thanks
BB2014,2016
I feel sorry for this foooool Chanda, everybody else has got jobs as ambassadors, except him.
Akaikulike fye.
Ichikopo chesu, chi Sunday chalanda no bulanda.
The reason FIC went public is simple really. They have given solid information to ECL’s so-called watchdog institutions to investigate and prosecute but they chose to do nothing.
Anyone who comments out of interest of the party on power is misleading the public. How can that be? The purpose of the FIC is not to unhearth financial mismanagement of public resources and file the reports. Where corruption and outright theft of such resources is discovered by the FIC, the culprits must be prosecuted; and needless to mention the FIC shall be in court to provide the evidence.
His deputy Antonio Mwanza has been very quiet of late. where is he?
REALTY HAS DAWNED, JUMPING FROM A POND INTO A SEWER.
Chap is in China. Donno if he is back already.
Sunday Chanda? I said that he is a waste of time, dudn’t you hear me PF?
So what has he said in his statement, childish narrative from a Grade 5 pupil, forgive me for sounding disrespectful to Grade 5 pupils, I should have said like chiodish narrative like from underfive.
Sunday Chanda can only be likened to h.h., but h.h is called president of upnd!!
You have given chance to your kama dormant half brain cell to work to day mudala? Nice.
Ba Sanday Chanda is ignorant.He lacks education and can’t be compared to Chipimo the brilliant and intelligent man of the moment
Chanda and Mushota combined can’t march Chipomo brilliance not even his garden boy.
I pity this guy Tuesday Chanda
“….The Act provides that the Board is appointed by the President. He appoints the Chairperson and four persons…”
I would not trust this organisation…upto dirty tricks to win public opinion until they have to frame lungus enemies with no questions asked….busy raising orange flags until they have raise false red flags against opposition….
This man Chanda is not normal.The financial intelligence is a great report and Lungu and ACC should do something.ACC should just follow up with this report.These chaps in ACC are clueless and chaotic.ooops ACC needs should be disbanded or burnt.I have never seen such incompetent Anti corruption commission who just follow opposition—–less
sunday chanda , lungu , chipimo of three who is best at law?….. chanda is need a job
Ninjala yeka!
Pr1m@tes like Monday Chanda, will defend P.F’s wrongdoing “to the hilt” but as soon as these b@6600ns are fired, you finally hear common sense flowing from their dishonest corrupt frothing mouths.
I still remember “Big Mkoshi’ – vimbwili, complaining on Sunday interview few years ago that opposition politicians were childish & petty for calling Ba Jona Chakolwa, & corrupt.
Fast forward after his sacking, Big Mkoshi’ is now heard on a daily basis saying Jona is “Korraputi, & a Chakolwa” Kaya!??
Points by Sunday. Those who think he is yapping jibberish should counter with quotes from our Laws, not personal attacks and opinions.
Sunday chanda is employed by the party, what he gets is better than even ambassadors! Hammer them Sunday these messengers of falsehoods!
An apology of a spin doctor Sunday Chanda is!! Defending the indefensible as usual in a dismal attempt to make a wrong look right and sinking deep into the hole in the process. Typical of thieving administration gotten used to shamelessly taking from the poor.
@Nostradumus; Sunday Chanda’ wife Patricia, is the deputy high commissioner in London, so he is quite comfortable being the PF clown here as he’s also benefiting from the contract money he gets. They are ‘eating’ with both hands.
Sunday Chanda is the proverbial “fox in the chicken pen” that Elias Chipimo is talking about.
Sunday Chanda is a bootlicker who is desperately trying to save his job.ECJ called upon law enforcement agencies to act on the report of the FIC.For Example,is it stated in the report that in a particular tender,an addendum was issued but only one bidder was given.how long should that take you to investigate ?Sunday Chanda should continue eating and defending his job.Elias is speaking for the zambians who are living in poverty.The day of reckoning for the PF and its minions is coming.
When people are no longer righteous in there dealings , always a find way to support what is not right. Learn to be upright when u given the position that is senstive to the people. The institution was just giving u indications not intoxication that economy is right and we can all see that. So whats wrong with chipimo’s comment.
I meant the economy is not right
Uyu mwaiche Sunday Chanda ipala nalimupesha anano. What does the ignorant grade 12 failure know about law to challenge Chipimo who sat in class unlike him whose achievement is the position of noise making in PF a job with a short life span. Anyway the boy behaves like a tick on the back of a dog that does not know the lifespan of the thing it clings on.
I don’t get it.. Ok, lets say FIC took a grandstand posture by releasing that report. Take to task the Director or whoever but after that dust settles, ba Chanda, what are you saying about the grand corruption raised? Paradise paper blah blah… That’s private money at best and at worst its involving a guy who is NOT in charge of this country. What we want to know is what those in leadership are doing with OUR money.
Is Sunday Chanda not plying to the gallery himself? Why are these PF guys so directionless? He is not a government spokesperson but a PF Media chairperson. What has he got to do with an agency instituted by an k
ent institution? Isn’t this what KBF calls indiscipline? PF is such an undisciplined party.
I though this was coming from someone from FIU alas it is from this incorrigible nincompoop? This buffoon thinks with his backside and will always jump on anything just to please his slave masters. You are not at the same level with Chipimo, you twat. Eat while there is still time as a time of reckoning is around the corner. Chikwanda wants to wash his hands clean as well? No amount of political hullabaloo and spurious misrepresentation from you will make us think otherwise. PF is a bunch of cadres and kaponyas that has destroyed a once promising economy eight years ago. Nonsense.
Chipimo wrote a brilliant analysis yesterday and in my response I indicated that there would be some bloggers who would still bury their heads in the sand.
@Nubian fimo fimo above, goes even further by merely calling Chipimo a failure – no constructive response to his article or why you allege he is a failure. Were you even able to read it, or comprehend?
Its very hard to know where to begin with this man Mr Sunday Chanda. You cannot disseminate ‘Disclosure of Information’, because disclosure of information is making public information that would otherwise be confidential, this is usually in relation to an existing act e.g. The Freedom of Information Act (2000). Deal with PF party issues and cadres and leave practising lawyers like Mr. Chipimo to educate the public from a well meaning, respectful and analytical perspective. Use your recently acquired law degree to educate the cadres who wont be any wiser once you have finished.
I second your motion Mr. Chanda.
So is Mr Chanda alleging that the disclosure of rampant pillaging of the national treasury is false? I think not. His chief complaint is that the public has been made aware of the evidence that the President claims to not have in the vain hope that the public will not expect nay demand that the institutions set up to ensure the executive and its cronies like Mr Chanda don’t intefere with the investigationand prosecution of those who in the language of the penal code are committing theft by public servant of astronomical unprecedented proportion. May I as a member of the public put on notice political leaders who betray our trust as revealed in the FIC report; thier cronies who exhibit bully tactics and the institutions entrusted with the sacred job of investigating and prosecuting…