Financial Intelligence Centre (FIC)

Criminals try their luck amid the pandemic – FIC
06 Aug

Criminals try their luck amid the pandemic – FIC

ObserverObserver Money
TUJOROMAJO KASUTO THE Financial Intelligence Centre (FIC) says Suspicious Transactions Reporting detected a 36 percent increase in fraudulent activity from members of the public and a 15,8 percent decrease from financial institutions. This was revealed by the director of the centre, Leonie Dunn, in the institution’s financial statements for the year ended 31 March 2021 in which he said the review had underlined the significance of the FIC’s intelligence services as unscrupulous entrepreneurs consistently tested the environment for opportunities to take advantage of the pandemic to enrich themselves, expand and advance their enterprises through crime. “FIC’s intelligence disclosures are being…
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FIC flags N$17 billion worth suspicious transactions
10 Sep

FIC flags N$17 billion worth suspicious transactions

ObserverObserver Money, ,
Staff Writer Financial Intelligence Centre (FIC) during its financial year ending year ended 31 March 2020 says it flagged transactions worth N$17 billion which it suspects to be proceeds of crime and are now subject to investigation by law enforcement agents. During the period under review, the centre, according to its annual report contributed to 84 investigations conducted by various law enforcement authorities. “The top five underlying predicate offenses investigated include fraud, corruption, poaching, dealing in drugs, illegal deposit taking/pyramid schemes and money laundering. Furthermore, investigations by these law enforcement agencies with assistance of the Office of the Prosecutor General…
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