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
Respect public institutions Mr Pres

Leaders must uphold the rule of law and ensure justice, but Masisi’s remarks raise serious concerns on the separation of powers and the independence of the justice system.Masisi’s claim that he personally instructed authorities not to handcuff Khama, regardless of the legal circumstances, undermines the principles of justice and equality before the law.As Head of State, Masisi should respect the judicial process and avoid interfering in...

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