THE Financial Intelligence Centre (FIC) says there is need to have regulations in place that will ensure more of prevention than detection of illicit financial transactions. In an interview, FIC Director General Clement Kapalu said elements of illicit financial transfers are a bit beyond what institutions like the Zambia Revenue Authority are able to detect. He observed that at the time suspicious transactions are reported, the money would have already been transferred, adding that repatriating funds is a difficult process. “Some of the elements of these crimes that we see, they are going a bit beyond what we expect the revenue authority to be able to do. The scale is huge. The methods used are such that they require more...