Leonie Dunn

FIC flags N$17 billion worth suspicious transactions

FIC flags N$17 billion worth suspicious transactions

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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