THE Zambia Revenue Authority (ZRA) says the operations of the Financial Intelligence Centre (FIC) are hindered by some legal limitations that weaken the Centre’s effectiveness. ZRA has identified the 15-day administrative freeze period under the Financial Intelligence Centre (General) Regulations, S.I. No. 54 of 2022 as a critical bottleneck. The Authority notes that this timeframe is fundamentally insufficient for complex investigations, particularly those involving cross-border tracing. Reviewing the FIC’s operations before the Committee on Cabinet Affairs, Monday, ZRA Acting Commissioner General Timothy Milambo said the FIC Act lacked real-time data integration, which forced officials to rely on manual requests that delayed investigations. “Notwithstanding the broad legal framework, the operations of the Centre face limitations within the legal framework as follows:...
