This is a deeply flawed idea. We should focus on strengthening our institutional framework to ensure that political interference is permanently removed from Law Enforcement Agencies.
Lusaka, July 22 – I have encountered this headline in several WhatsApp groups and have chosen to address it, regardless of who started it due to its recent prominence in ongoing discussions. This topic has sparked considerable debate, making it imperative to provide a comprehensive commentary.
While the notion might seem appealing at first glance, it is a deeply flawed idea stemming from a fundamental misunderstanding of the purpose of the Financial Intelligence Centre (FIC). This decision would be akin to assigning the Office of the President’s Intelligence System the responsibilities of the Zambia Police Service.
First, we must grasp the purpose of the FIC to avoid redundancy. The FIC is legally mandated to collect financial intelligence on suspicious transactions, fraud, tax evasion, and money laundering activities.
The law designates the FIC as the Financial Intelligence Unit (FIU) of the Government of the Republic of Zambia, established in November 2010 by an Act of Parliament, “The Financial Intelligence Centre Act, No. 46 of 2010.”
The FIC is the sole national agency authorized to receive, request, analyze, and disseminate information related to suspected money laundering (ML), terrorist financing (TF), and other serious offenses to competent authorities for investigation, with the goal of combating ML, TF, and other serious crimes.
The FIC serves as the information aggregator from reporting entities such as banks, insurance companies, real estate agencies, and casinos, ensuring that “independent” law enforcement agencies (LEAs) do not waste time searching for suspicious transactions while fulfilling their mandates.
One reason the annual Financial Trends Report by the FIC generates only temporary political uproar without leading to arrests is that it often contains raw data that falls into the wrong hands. This data should be utilized by LEAs to investigate, verify, and act upon. Often, upon thorough investigation and verification, these transactions may not constitute criminal activity.
The reality is that the FIC’s annual Financial Trends Report has been politicized due to our flawed political system that focuses on negativity to gain votes rather than discussing solutions. This leads to discussions about shocking figures that alarm citizens who struggle to afford basic necessities.
The writer, and especially our lawmakers, should, instead, focus on coming up with ways of strengthening our institutional framework to ensure that political interference is permanently removed from the activities of LEAs.
Also Read: Dr. O’Brien Kaaba Exposes Ongoing Deep-Rooted Treasury Corruption Involving State Chambers! As ACC Shamakamba resigns from his office as Director General of the Anti Corruption Commision.
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