Financial Intelligence Centre-FIC

By Chileshe Mwango

The Financial Intelligence Centre-FIC- has reported a 13 percent increase in the number of suspicious financial transactions for the year 2021 involving K3.56 billion, from 145, 852 currency transactions compared to K3.14 billion recorded in 2020 from 129,826 cash transactions.

The FIC report themed: Cash bonanza has also established that Zambia remains very susceptible to money laundering and other associated financial crimes.

Presenting the 7th money laundering and terrorist financing trends report for the year 2021, FIC Acting Director General Liya Tembo said the majority of the cases disseminated were on suspected money laundering, corruption and tax evasion as was the case in 2020.
Ms. Tembo has disclosed that 221 suspicious transactions were analyzed out of which 44 were reported to law enforcement agencies.

The centre also noted the use of gatekeeper to conceal beneficial ownership and investment of laundered funds in construction, real estate and offshore centers.

At the same event, Attorney General Mulilo Kabesha has advised traditional leaders to stay away from giving solidarity to suspects of financial crimes which has been witnessed lately.



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