New Dawn Government Take Next Steps In Stopping Financial Crimes

The Zambian government has demonstrated its commitment to fighting financial crimes such as corruption, money laundering and terrorism financing through various policy reforms and the establishment of a financial crimes court.

 The Ministry of Finance's Situmbeko Musokotwane stated that the government is determined to adhere to international standards on combating these crimes, as Zambia is a member of international organizations that have ratified protocols to criminalize money laundering and other financial crimes.  

The launch of the National Anti-Money Laundering and Countering of Terrorist Financing Policy is the first such policy in the country and is in response to the Financial Action Task Force's recommendations.

Dr. Musokotwane called on those responsible for implementing the policy to do so diligently, and for all stakeholders to address any outstanding issues in the fight against financial crimes.

Markus Weiner, Governance Advisor at the British High Commission, praised the launch of the policy and expressed the United Kingdom's support through the Anti-Corruption Commission and the International Center for Asset Recovery.

The policy sets a roadmap for effectively combating money laundering and terrorism financing in Zambia, with the aim of promoting financial integrity in the financial sector and protecting it from threats.

Dr. Musokotwane highlighted the importance of addressing areas that need urgent attention to ensure full compliance with the Financial Action Task Force's recommendations.

With the launch of the policy, the government is taking significant steps towards a fruitful fight against corruption and financial crimes in Zambia.

Photo: REUTERS/James Lawler Duggan