FIA laments weakness in pursuing dirty money

Financial Intelligence Agency (FIA) Deputy Director General, Legal and Compliance, Susan Mangori, recently revealed that the biggest contributors to the situation include the country’s weak controls in money value transfer services combined with outdated legislation, lack of cooperation and coordination as well as poor investigations and prosecution.

Presenting during the Anti-Money Laundering, Terrorism Financing, and Proliferation Financing conference recently, Mangori said Botswana’s exposure to dirty money was currently rated medium-high with offences raising the most threats being drug trafficking, tax crimes, fraud, poaching, and motor vehicle theft.