FIA flags P481M suspicious transactions
Pauline Dikuelo | Monday June 29, 2026 06:00
Speaking during recent discussions on illicit financial flows, a FIA representative revealed that the agency had received and analysed 850 suspicious transaction reports linked to a range of criminal activities, including fraud, tax crimes, corruption, drug-related offences and illegal deposit-taking.
The FIA also disseminated 102 financial intelligence reports to competent authorities, including the Botswana Police Service, the Directorate on Corruption and Economic Crime (DCEC), the Botswana Unified Revenue Service (BURS) and other financial intelligence units for further investigation and action.
According to the agency, intelligence gathered during the reporting period supported asset restraint actions and forfeitures. Information shared with BURS also triggered tax assessments amounting to P62 million.
'This was possible through the power of cooperation. As the FIA, we are not an investigative unit but an administrative Financial Intelligence Unit,' the FIA representative said.
She explained that the agency has the authority to temporarily freeze funds suspected to be linked to criminal activity, allowing investigators time to conduct inquiries and prevent the dissipation of assets.
The FIA's work relies heavily on information submitted by reporting entities. Banks are required to submit cash transaction reports for transactions of P10,000 and above, while electronic fund transfer reports are generated whenever amounts exceeding P10,000 are transferred outside Botswana. The agency also receives cross-border cash declaration reports from BURS, which records declarations made by individuals carrying significant amounts of money across borders.
Despite the agency's growing success in identifying suspicious financial activity, experts cautioned that stronger whistleblower protection remains critical to improving the detection of illicit financial flows.
National think tank BIDPA researcher Dr Marumo Omotoye said the country needs whistleblowers, as there is growing concern about corruption, procurement irregularities, and cross-border networks. He said Botswana had lost P1.7 billion to tax crimes, which posed the highest money-laundering risk, with underdeclaration of non-income and non-remittance of PAYE emerging as the largest source of illicit proceeds.
He said research conducted by the institute found that many Batswana remain unaware of available reporting channels and lack confidence in the country's ability to protect whistleblowers.
'Our research unearthed that whistleblowing systems are important, yet often underutilised. We found that people fear victimisation, dismissal and career stagnation, even when they possess credible information,' he said.
Dr Omotoye noted that strengthening whistleblower protection could significantly enhance the country's ability to identify financial crimes and corruption networks before they cause substantial economic damage.
Meanwhile, the government has released a forensic audit report that uncovered over P33 billion in embezzlement during the 10-year period from April 2014 to 2024.