Banks urged to be more vigilant

Thursday, April 15, 2010

Financial institutions should increase their vigilance and compliance systems because organised financial crime is growing rapidly in Botswana, the Director General of the Directorate of Intelligence and Security (DIS), Isaac Kgosi, has warned.

He was speaking at a Standard Chartered Bank breakfast meeting held to foster a closer working relationship between DIS agents and the bank for fighting financial crime at Cresta Lodge in Gaborone yesterday.

"We have noticed a sharp increase in organised financial crimes in this country over the last few years," Kgosi said.
"These range from cheque and card fraud to money laundering, identity theft and counterfeiting of banknotes.

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