INCREASE OF SUSPICIOUS FINANCIAL TRANSACTIONS CALLS FOR POLITICAL WILL AND A HOLISTIC APPROACH IN FIGHTING CORRUPTION

The Southern Africa Network against Corruption says the increase of suspicious financial transactions for the financial year ending 2022 as indicated in the Financial Intelligence Centre -FIC- report calls for political will and a holistic approach in fighting corruption.

The FIC annual report for 2022 analyzed 155 suspicious transactions worth K6. 1 billion, out of which 129 cases worth K5. 8 billion were disseminated to law enforcement agencies, representing a 38.92 percent increase from 2021.

Network Executive Director Gregory Chifire says these numbers are worrying and require changing the approach as the current corruption policies adopted in 2009 have failed to actualize.

Mr Chifire tells Phoenix News that for as long as new measures in fighting corruption are not put in place, every régime will fail to bring sanity.

Meanwhile, Green Party Leader Peter Sinkamba has alleged that the suspicious transactions in the 2022 FIC report where unusual large foreign currency transactions were made shows how some individuals in government are sending money abroad for safety to avoid being found in possession of proceeds of crime.

Mr Sinkamba says this will have an impact on the economy as the monies will not be used locally for local development.