MAJORITY  OF CASES UNDER PROBE-FIC

By Mary  Kachepa:

The Financial Intelligence Centre -FIC – has recorded an increase in the value of intelligence reports from K3.56bn in 2021 compared to K3.14bn in 2020.

FIC Acting Director General LIYA TEMBO says 44 intelligence reports were disseminated to law enforcement agencies who stated that they are still investigating the majority of the cases.

Mrs. TEMBO says 211 suspicious transactions reports were analyzed  in 2021 with the majority of the cases being suspicious unusual cash transactions.

She further notes that the number of currency transaction reports last year increased to 144,000 and 45,852 cases compared to 129,826 in 2020.

Mrs. TEMBO was speaking during the launch of the 7th money laundering and terrorism financial trends report in Lusaka today.

She said the main perpetrators were prominent influential persons, private individuals and legal persons who in many cases used cash as a mode of payment.

And Mrs. TEMBO revealed that FIC this year fined one reporting entity for non reporting of suspicious transactions.

She said 55 bank accounts worth over $30.3m, K292.9m and 106,85 Euros held with eight commercial banks were frozen by FIC.

Meanwhile, Attorney General MULILO KABESHA, who is also Chairperson of the Anti Money Laundering Authority, called for concerted efforts in the fight against corruption because it literally kills people where services are not provided.

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