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Financial crime fast track court hailed

Financial crime fast track court hailed
By Flaviour Kanungo and Adrian Mwanza
THE introduction of the Economic and Financial Crimes court is a game changer as the courts will be able to expedite cases involving financial crimes, Justice minister Mulambo Haimbe.
Mr Haimbe said in interview that the fast track court was aimed at fast tracking cases of financial fraud unlike what was happening in the past.
He said that in the past cases of financial and economic cases used to drag for a long time but that this had now changed as there would be a court specifically set up for this.
“For me, I feel this is a game changer because crimes of financial nature will be expeditiously disposed of because of their immense effect on the Zambian economy,” he said.
Mr Haimbe said it was difficult some time back to deal with financial cases and that these courts would start from the level of the subordinate court.
On Monday Chief Justice Mumba Malila said that he had signed a Statutory Instrument (SI) that would establish an Economic and Financial crime division of the High Court with the purpose of handling appeals from subordinate courts.
And , Action Aid Zambia has said the decision by government to establish the economic and financial crime court is timely following the increase of financial irregularities in public institutions
On Monday, Chief Justice Mumba Malila has announced the establishment of the economic and financial crime court pursuant to article 133(3) of the constitution of Zambia.
The division will be a specialized appeal court to handle financial crime cases from the subordinate courts.
Action Aid Zambia Country director Nalucha Ziba said the country has been losing huge sums of monies as a result of financial irregularities with most culprits going scot free therefore the setting up of the court will address such challenges.
Ms. Ziba has however proposed for the strengthening of the law enforcement agencies if the newly established court is to operate efficiently.
She says the establishment of the court is not enough, as there is need to have a robust law enforcement agencies that will ensure that matters related to financial crime are investigated conclusively.

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