TRANSPARENCY International Zambia has expressed concern over the country’s loss of K61 billion due to illicit financial transfers abroad, as revealed by the Financial Intelligence Centre. The organisation is urging law enforcement agencies to proactively investigate these transactions and bring all culprits to book. FIC revealed that in the first quarter of 2024, it observed a continuing trend of suspected tax evasion and money laundering by foreign nationals transferring suspected illicit funds out of Zambia. In its 2024 first quarter bulletin, the centre stated that during the period under review, it disseminated 810 reports to law enforcement, with estimated outflows of Kwacha equivalent of K61 billion related to suspected illicit financial flows. FIC also observed that foreigners continued to establish...