Dirty money starts from dirty minds

Elsewhere in this publication, we feature an extensive report on the efforts being made through newly-enacted legislation and pressure on the financial services sector to remove the country’s global grey-listing for money laundering.

The new Financial Intelligence Act, which kicked in on September 4, is indeed a comprehensive endeavour to lift the country to international best practice in terms of Anti-Money Laundering/Combatting Financing of Terrorism (AML/CFT).

The new Act replaces its loophole-ridden predecessor, which was demonstrably ineffective as seen in the fact that almost no money laundering cases ever reached the courts or were successfully prosecuted in the years since its enactment in 2009.

Editor's Comment
Bravo police for prompt action

It is also hurting that whilst we all know that the Botswana Police Service (BPS) is charged functionally with the duties to investigate all forms of crime, some locals have resorted to taking the law into their own hands. It is very wrong to do that. There is also a possibility that one may wrongfully take the life of a person in the process, unless it is a justifiable case of self-defence. Recently, in the city of Francistown, some locals found...

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