By MILLENNIUM REPORTER
SOUTHERN Africa Network against Corruption executive director Gregory Chifire says the fight against money laundering corruption and other illicit financial activities should continuously align itself to modern trends.
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Recently, Cabinet approved the undertaking of the second-round of money laundering, terrorist financing, proliferation financing national risk assessment.
Mr. Chifire said to ensure that the fight against money laundering is effective, there is need to update the law to meet the current demands.
He said the country cannot continue using yesterday’s methods to fight today’s crime as every day money launderers and those involved in terrorism financing and proliferation use different methods.
And the Paralegal Alliance Network said there is need for stakeholders to educate ordinary Zambians on the legal framework regarding money laundering in the country in order to encourage citizens’ participation in curbing the vice.
Alliance chairperson Eugene Kabilika said it is worrying that despite Zambia having a robust anti-money laundering legal framework, development may continue to be affected negatively if money ends up in the hands of few individuals engaging in the vice.
Mr. Kabilika said with laundered money not being in the banking system, inflation may become a problem for Zambia and affect the developmental needs of citizens.
Mr. Kabilika said law enforcement agencies should not feel pity for people with money that is not in circulation if development is to be enhanced without hindrances.
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