Zambia is not immune to trade-based money laundering so there is need for all stakeholders to be alert in tackling the vice, says Attorney General Likando Kalaluka.
Speaking during the launch of the Attorney General Africa Alliance on Trade-Based Anti-Money Laundering training workshop in Lusaka, Tuesday, Kaluluka noted that trade-based money laundering was on the rise in Zambia and remained problematic.
“Zambia is not immune to the problem of trade-based money laundering. There is no scope to deny that the country is not affected by trade-based money laundering, and if all stakeholders in international trade and those involved in the fight against financial crimes remain alert and vigilant, manipulation by criminals can be stopped to a great extent and, ultimately, this can help the prevention of the vice in Zambia,” Kalaluka said.
“The Anti-Money laundering authority is cognizant of the importance of cooperation in the fight against financial crimes and remains committed to ensuring that collaboration among the competent authorities, as well as other stakeholders in combating trade-based money laundering in Zambia, is strengthened.”
And Kalaluka called on authorities to come up with familiar strategies that would ensure that criminals committing the financial crimes were dealt with in an effective way.
“Competent authorities gathered in this auditorium should come up with familiar strategies that will seek to ensure that those who commit crimes are countered in a most effective way. It is always said that the law without effective law enforcement agencies is nothing but good advice. In Zambia, we don’t want our laws to be good at that. We want our laws to be effectively enforced and it is in this regard that this workshop has been organized with a view of equipping law enforcement officers to ensure that the law is not merely at good advice, but that the law should be enforceable and also that it should be enforced effectivel,” said Kalaluka.
“As such, a complex problem like the trade-based law, trade-based money laundering, which cuts across more than one sector of an economy and goes beyond national borders, requires a considerable cooperation strategy among agencies, both domestically and internationally, in order to provide solutions to the vice. Having a joint taskforce among the domestic agencies to ensure that domestic inter-agency cooperation cannot, therefore, be over-emphasized. Arrangements, such as the anti-money laundering countering the financing of terrorism national task force of senior officials comprising of various stakeholders are a very good forum for dealing in with such menaces.”
The workshop, organized by the Committee of Attorney General’s Alliance (AGA) AAP in collaboration with the Financial Intelligence Centre (FIC), is being held from August 13-16, 2019, with a view of equipping law enforcement officers to ensure that the law should be enforced effectively, particularly against trade-based money laundering.