Directive to Commercial Banks on De-risking of clients.

The Financial Intelligence Centre Act and the International anti-money laundering/countering the financing of terrorism and proliferation (AML/CFTP) standards provide a framework that ensures that Zambia’s financial systems are not abused by perpetrators of financial crime. However, for varied reasons, de-risking activities in the financial sector within Zambia continue to take place in different forms including the termination of correspondent banking relations, account closures and account restrictions among other measures in an uncoordinated manner and without updates being given by reporting entities to the FIC.

The full directive can be accessed on the link below:

Download this file (Directive_De risking.pdf)Directive_De risking.pdf[ ]