FIA warns insurance industry on money laundering

Insurance players have been urged to develop policies that are capable of detecting, deterring and reporting possible incidences of money laundering and other financial crimes.

Koongalele Chube, the senior assistant director for compliance in the Financial Intelligence Agency (FIA) said the insurance sector is a critical player in the fight against money laundering and other economically motivated crimes.

Giving a presentation at the recent Insurance Institute of Botswana (IIB) annual conference in Gaborone, she said the industry is potentially at risk of being used for money laundering purposes.

Editor's Comment
Gov’t must rectify recognition of Khama as Kgosi

While it is widely acknowledged that Khama holds the title of Kgosi, the government’s failure to properly gazette his recognition has raised serious concerns about adherence to legal procedures and the credibility of traditional leadership. (See a story elsewhere in this newspaper.) Recent court documents by the Minister for Local Government and Rural Development, Kgotla Autlwetse, shed light on the intricacies of Khama’s recognition process....

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