FNBB Hosts Money Laundering Workshop

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FRANCISTOWN: Customers of First National Bank of Botswana (FNBB) find themselves troubled with complying with Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) regulations.

They expressed their distress after a presentation about AML and CTF laws during the FNBB fraud symposium. One of the concerned attendees and also the director of Ebat Consultant, Ogomoditse Maruapula said there is a need for the bank to identify its role as a bank. He further questioned why FNBB would be interested in the money he is depositing into his own business account. “Would I be right to assume that FNBB is being used to investigate me?  If so it would be a risk for me as a customer to put my money into your bank,” he said.

The curious businessman also emphasised that it is high time FNBB disclosed its role as a bank to its customers and clarify whether they are working as someone else’s watchdogs. Owner of a warehouse and electrical supplies company, Joe Slink expressed that he was surprised to have received an invitation for FNBB symposium as he does not bank with them. Slink revealed that he only banks with Bank of Baroda and Standard Chartered. “I wonder why I was even invited to this gathering because I don’t have an account with FNBB. I find it very disturbing to be part your symposium,” he said.

Editor's Comment
CAF is a joke, but...

We are told of massive spin-offs for hosting countries, which we assume was the catalyst behind putting in the bid.We are not too sure if it is a one-size fits all, where any hosting nation reaps the benefits or it’s on a case-by-case basis.There are arguments from both ends, with hosting a sure way to accelerate infrastructure development and a guaranteed cash flow during the 30-days of the tournament.There is a bump in employment creation...

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