The Guidelines seek to explain the common reporting situations under the Financial Intelligence Centre Act and assist the Financial Institutions and other designated business and professions be in compliance with the Act. The STR Guidelines are provided as general information only and as such does not represent all the requirements under the law as the obligations imposed by the Supervisory Authorities. To this effect, the  Guidelines do not constitute legal advice and are not intended to replace the FIC Act or any other guidelines, directives or regulations issued by Supervisory Authorities for the Reporting Entities. Therefore, a Reporting Entity should also consult with its respective Supervisory Authority.

 

Sector Specific Guidelines 

Following the development of sector specific suspicious transactions reporting (STR) guidelines, the Centre wishes to advise its stakeholders that the sector Specific STR guidelines have now been issued.

PEP Guidance Note

Section 19 of the Financial Intelligence Centre Act, No. 46 of 2010 (“the Act”) provides for High Risk Customers. In Zambia, Politically Exposed Persons (PEPs) are considered to be High Risk Customers.

The Guidance Note is intended to provide reporting entities with an overview of PEPs in Zambia and what AML/CFT measures apply to them. It is provided as general information only. It is not legal advice and not intended to replace the AML/CFT Acts.