We are under siege from criminals – Financial Intelligence Centre
#Zambia: Citizens need to pay very close attention to this issue. The #FIC has so far been a rather ‘under-radar’ institution. We need to know the reasons for the sudden siege of this vital anti-graft unit.
#FIC has been in existence for 7 years created by an Act of Parliament, The Financial Intelligence Centre Act No. 46 of 2010.
The law empowers the #FIC to be the sole designated agency responsible for the receipt, requesting, analyzing and disseminating of the disclosure of suspicious transaction reports.
Unlike other state agencies who have their focus on many issues, the #FIC is solely focused on combating financial crimes: Money Laundering (ML), Terrorist Financing (TF) and other serious offences.
It is therefore very concerning to us that there are elements trying to destroy this institution. The #FIC has described those people as criminals.
Since inception, the #FIC has operated almost silently especially that they do not prosecute but report to law enforcement agencies such cases as they deem suitable for prosecution.
It worries us that suddenly, we have people eager to frustrate and get rid of senior officers and staff from the #FIC. What is the behind this crusade?
As indicated in the @DiggersOfNews story, the #FIC says it is under siege! It is the duty of citizens & anti-corruption advocates to defend the integrity & sanctity of the #FIC
What the #FIC needs is to be strengthened & not weakened. Clearly, they have come across major case of graft but the law does not allow them do do much about such issues.
We notice from their reports that, as compared to the #AuditorGeneral the #FIC does not mention individuals or institutions. Rather they use generic terms such as, NGO, Political party, Individual, etc.
Parliament must be lobbied to strengthen & widen the mandate of the #FIC in combating financial crimes. Clearly, the institution has the capacity but not the corresponding legal powers.
It is alarming that last 9 months, the #FIC recorded a total of about 35, 783 suspicious cash transactions involving over US$ 1 billion, linked to corporate and individual bank accounts.
50% of the companies investigated which got government contracts are not registered for tax while some belong to politically exposed individuals who front surrogates to conduct business on their behalf.
How did the government award contracts to non-tax compliant business entities? Who owns those businesses? Who in government awarded those contracts?
The Zambia Revenue Authority, The Ministry of Finance and Parliament (PAC) owe Zambians answers on how such blatant disregard of the law was allowed to happen.
Parliament through the PAC must demand to have a look at those transactions and inform the nation accordingly. ZRA & Ministry of Finance must ensure that all monies owed to the treasury are collected.
The #ACA is very happy that both the board & management of the #FIC are not giving in to the threat by the said criminal elements. However, as individuals & an institution they can only do so much.
We therefore call upon all Zambians who want to see an end to rampant abuse of public resources to show support & act in solidarity with the #FIC.
The #ACA will engage with the #FIC to learn more about their work so as to inform ourselves & citizens on how we can all defend & support their work. #Zambia #AskMore
Source: News Diggers https://t.co/V0AdCWlqDh
