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Public Awareness

The Financial Intelligence Centre has published the Trends Report for 2016 documenting what is currently prevailing in the Financial Systems in Zambia in terms of AML/CFT related matters.

Director General’s foreword

The FIC 2016 AML/CFT trends report is the third edition of this annual AML/CTF trends analysis.  In this third edition we have added new insightful sections that make the report more informative.

 

A section analysing the number and value of STRs received month by month in the year 2016 has been added.  This analysis revealed that the highest numbers and value of STRs in 2016 were received in the month of August.  It is insightful to note that this was the period in which the 2016 General Elections were held.  We have also added a section that outlines our recommendations on how to address the existing and nascent trends in money laundering and other serious financial crimes.  It is our belief that these recommendations will prove very valuable in policy formulation by the Country.

 

It is important to note that Zambia conducted the ML/TF National Risk Assessment (NRA) between October, 2015 and November 2016 and the results of the NRA corroborate the findings in this trends report.

 

In 2016 the Financial Intelligence Centre Act No. 46 of 2010 was amended to introduce new provisions targeted at strengthening the FIC’s capacity to achieve its mandate.  With these amendments we expect increased levels of compliance among reporting entities, and a subsequent increase in STRs reported to the FIC. 

 

The FIC remains committed to creating strong relationships with Government institutions and various other stakeholders.  Robust collaboration and coordination among stakeholders in the AML/CFT space is vital in strengthening the Country’s combating ability.

 

Finally, I would like to thank the Government of the Republic of Zambia and various stakeholders for the support and cooperation rendered to the FIC in 2016.
It is my honour and privilege to present to you the FIC 2016 AML/CFT trends report.


Mary C. Tshuma (Mrs)
Director General

Attachments:
Download this file (TRENDS REPORT 2016.pdf)Trends Report 2016[ ]