Zambia’s 2025 National Risk Assessment has given the country a mixed verdict. On paper, the overall national money laundering risk has improved from medium high in 2016 to medium in 2025. But beneath that comforting summary sits a very troubling reality: some of the sectors that ought to help protect the economy are still among the most vulnerable to abuse. Law firms remain high risk, just like casinos, real estate and dealers in precious stones and metals. On top of that, legal persons and arrangements have been rated high risk, environmental and natural resources crimes have been rated high risk, and virtual asset service providers sit at medium high risk. So yes, the national picture may look slightly better, but...