THE Financial Intelligence Centre (FIC) has disclosed that a shell company incorporated in 2023 was awarded a contract and received multiple payments amounting to K85 million from a public institution between October 2024 and July 2025. According to the FIC’s 11th Money Laundering Trends Report, the shell company transferred approximately K70 million to another company shortly after receiving the funds, with additional large transfers made to other entities and personal accounts. The report revealed that the shell company was not registered for the relevant tax types and had no record of tax payments, salaries or statutory contributions. “The FIC analysed a case of suspected procurement corruption, tax evasion and money laundering in the procurement of supplies by Public Institution A....