THE Financial Intelligence Centre (FIC) says the perpetrators of illicit financial flows involving over US$3 billion are overwhelmingly business persons from foreign jurisdictions, largely involved in illegal mining and trade. The Centre has further clarified that the US$3 billion worth of illicit financial flows analysed and disseminated in 2024 relate to 2024 and prior periods. Recently, News Diggers quoted FIC Director General Francis Kapalu as saying that 2024 had seen illicit financial flows worth over $3 billion. Clarifying this, Kapalu explained that the Centre had been clearing a backlog of suspicious transaction reports to bring the database up to date. “I refer to the article in the News Diggers newspaper of 5th January 2025. The article quotes the Director General...