FIC reports need to be simplified in a way that when they talk about illicit financial flows, they should say this one was involved in this transaction, right now they are wide open, says Chief Government Spokesperson Cornelius Mweetwa.
The Financial Intelligence Centre revealed that it analysed 15,696 Suspicious Transaction Reports (STRs) in 2023, out of which 923 intelligence reports worth K13.58 billion were disseminated to Law Enforcement Agencies (LEAs).
The Centre said the disseminated intelligence reports represented a 133 percent increase from 2022’s reports valued at K5.83 billion, the majority of which were related to suspected money laundering, corruption and tax evasion.
The report also revealed that the Centre froze 27 bank accounts containing US$2.8 million and K126.5 million…
(NEWSDIGGERS)
WE NEED TO BRING SANITY TO FIC REPORTS, CULPRITS SHOULD BE NAMED – MWEETWA
FIC reports need to be simplified in a way that when they talk about illicit financial flows, they should say this one was involved in this transaction, right now they are wide open, says Chief Government Spokesperson Cornelius Mweetwa.
The Financial Intelligence Centre revealed that it analysed 15,696 Suspicious Transaction Reports (STRs) in 2023, out of which 923 intelligence reports worth K13.58 billion were disseminated to Law Enforcement Agencies (LEAs).
The Centre said the disseminated intelligence reports represented a 133 percent increase from 2022’s reports valued at K5.83 billion, the majority of which were related to suspected money laundering, corruption and tax evasion.
The report also revealed that the Centre froze 27 bank accounts containing US$2.8 million and K126.5 million…
(NEWSDIGGERS)
Indeed so as to stop innuendos…
The FIC should strengthen its operations and proactively work with law enforcement agencies to act immediately financial crimes and financial transactions are suspected and are detected. Issuing of FIC reports without reporting incidences of financial crimes when they occur is a waste of time and resources.
Hon. Mweetwa please stop fooling yourselves while thinking that you are fooling people. FIC reports which are submitted to the president have names of the culprits not the letter xzy. This was publicly stated by one former chairman a Mr John fimofimo under previous gvt.