The Financial Intelligence Centre (FIC) recorded K13.58 Billion Kwacha in suspicious Transactions in 2023.
This is a 133% increase compared to K5.83 billion recorded in 2022.
FIC Director General, Clement Kapalu, says this is out of the 15,696 suspicious transactions, out of which 923 intelligence reports were disseminated to Law Enforcement Agencies.
“The majority of intelligence reports disseminated were on suspected money laundering, corruption and tax evasion which has been consistent in previous years,” said Mr. Kapalu in the report issued to RCV News in Lusaka.
Mr. Kapalu said that as a result of disseminations by the (FIC), the Zambia Revenue Authority (ZRA) made tax assessments amounting to K1.2 Billion in principal tax, interest and penalties.
He said that (ZRA) to that effect made recoveries of over K3.5 million.
Mr. Kapalu said that feedback received from other Law enforcement agencies the on disseminated reports indicated that the cases were at investigation and prosecution stages.
He said that accused persons were convicted in some cases, while non-conviction based forfeitures were recorded in others.
Angel Kasabo
