FINANCIAL Intelligence Centre (FIC) acting director general Liya Tembo says reporting entities are only obliged to submit suspicious transaction reports to the centre, and not any other agency as doing so would be illegal. And Tembo says Zambia risks losing its current level of compliance should multiple agencies begin to receive Suspicious Transaction Reports (STRs) and Currency Transaction Reports (CTRs). Outgoing Anti-Corruption Commission director general Gilbert Phiri recently urged banks and all financial institutions to directly report suspicious financial transactions to law enforcement agencies as well and not just to the Financial Intelligence Centre. But in a notice addressed to all reporting entities, Monday, Tembo said STRs and CTRs were not supposed to be reported to any other agency apart from…...

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