Zambia launches initiative to curb TBML

Zambia’s attorney general is championing a coordinated attempt to curb trade-based money laundering (TBML) in the southern African country.

Speaking at a workshop during the launch of the Attorney General Africa Alliance on Trade-Based Anti-Money Laundering training workshop in the Zambian capital Lusaka last week, Likando Kalaluka, said TBML was on the rise in Zambia and remained problematic.

Improved know-how

The workshop, organised by the Committee of Attorney General’s Alliance in collaboration with the Financial Intelligence Centre, was held on 13-16 August and aimed to equip law enforcement officers with know-how to better tackle TBML.

“Zambia is not immune to the problem of trade-based money laundering…and if all stakeholders in international trade and those involved in the fight against financial crimes remain alert and vigilant, manipulation by criminals can be stopped to a great extent,” Kalaluka said.

Inter-agency cooperation

The attorney general also called for inter-agency cooperation, saying he is “cognisant of the importance of cooperation in the fight against financial crimes” and is “committed to ensuring that collaboration among the competent authorities is strengthened.”

He describes TBML as a complex problem that cuts across more than one sector of an economy and goes beyond national borders. An effective approach requires considerable cooperation strategy among agencies, both domestically and internationally, he argues.



Categories: Trade Based Financial crimes News