The Role of the Financial Intelligence Centre (FIC)

There is an interesting debate going on around the role of FIC in Zambia in relation to other Law Enforcement Agencies (LEAs) such as DEC, ACC & ZPS. Here are my views. As a member of Egmont Group, The Financial Intelligence Centre (FIC) in Zambia have very specific and distinct roles which are clearly tabulated in the FIC Act. The FIC Website May also help clear the doubts if at all any. #Utuntu people should be encouraged to Google and read. Lol! In a nutshell FIC in Zambia is an administrative one. Their current roles used to be performed by the Anti-Money Laundering Authority (AMLA) which has the AML Investigations Unit (AMLIU) under the auspices of Drug Enforcement Commission (DEC). The Current DG – Mary Chirwa and other FIC staff came from AMLIU under DEC -which administers the 2 ACTS (one on Drugs and psychotropical substances and another on Anti-Money Laundering). The current FIC has no prosecutorial powers – meaning they can’t effect an arrest and Prosecute you in court of law. They receive, aggregate, analyse, filter and disseminate, share/report of Suspicious Activity Reports (SARS), Cash or Currency Transaction Reports (CTRs) of suspected Financial Crimes – which among many others are (Money Laundering and Countering Terrorism Financing to DEC – Which still has the Anti-Money Investigations Unit and the AML Authority and ACT is still under DEC). The suspected Bribery and Corruption reports are reported to the Anti-Corruption Commission (ACC) by FIC. The suspected TAX Avoidance and Tax Evasion are reported to Zambia Revenue Authority (ZRA) – Fraudulent transactions and Thefts are reported to Zambia Police Service (ZPS). That not withstanding all the Law Enforcement Agencies ( DEC, ACC, ZPS and ZRA) do initiate Investigations from other sources such as the media, informers, aggrieved Parties, concerned citizens, TIZ, Auditor General Reports, from OOP, Plot 1, Opposition Parties any concerned institution and individuals. The LEA and do collaborate on certain cases and can whilst jointly working together form a (Task Force) and can investigate complex Financial Crime cases which involve, bribery, corruption, money laundering and tax evasion for example. The FIC being a member of the Egmont Group is an equivalent of FinCEN in USA, Austrac in Australia, Intelligence Processing & Action Against illicit Financial Networks unit (Tracfin) Greece – ( Hellenic FIU) – India ( FIU-Ind) – UK ( UK-FIU -NCA). Canada-( Canafe). Have a great day folks

Published by Kunda Kalaba

Financial Crime Compliance (FCC) professional. Passionate about AML/CTF, Sanctions, ABC, KYC, CDD. Member - World Advisory Council Association of Certified Fraud Examiners-ACFE. Member of the African Task Force Committee - ACAMS. Presenter at International Conferences-ACAMS&ACFE. Certified Fraud Examiner-CFE. ACFE & ACAMS Singapore Chapters Member. Certified Anti-Money Laundering Specialist-CAMS. Certified Anti-Bribery and Corruption-ABC. Chairperson, ABC Working Group. Founder - Institute of Directors (IoD) Zambia Chapter. Founder - Managerial Accountability & Transparency. Two-term of two years Chairperson of the Bankers Association of Zambia Fraud Prevention and Security Committee. Zambian Government to SADC and COMESA Consultant on Crime & Corruption Prevention & management Strategies. Sound & vast experience in FCC Compliance, Deterrence, Prevention, Detection, Investigations, Security and Prosecutions. 25 years extensive experience in FCC, ABC, AML, CTF, Fraud & Operational risk assessment & Investigations. STA in Financial Crime Compliance & Risk management in London, Coventry & Southampton in the UK. Area Head of FCC for Southern & East Africa responsible for Risk Assessments & Investigations, AML/CTF, Sanctions. Central Bank regulatory and AML Directives appointed as Country Money Laundering Prevention/Reporting Officer-CMLPO. Professionally trained “trainer of trainers” & core facilitator. Proficient with proven track record of exceptional abilities in management and leadership for performance. Corporate Governance, capacity building, Institutional & Organizational development, business process re-engineering. Technical expertise is coupled with excellent interpersonal, team building, communication and presentation skills.

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