Legal practice contributes to illicit financial flows

According to the Law Society of Botswana (LSB), the legal practice contributed significantly to the recent poor showing in the international ratings for Anti- Money Laundering and control of illicit financial flows by Financial Action Task Force based in Paris.

The Society’s chairperson, Diba Diba said it was a concern that the legal practice has a hand in illicit dealings and that they would do all that was necessary to assist the country attain compliance.  “This will include training for our members in this area and by ensuring a more robust regulatory framework,” he said.