The SIC, Lebanon's Financial Intelligence Unit (FIU), receives, analyzes, investigates suspicious transaction reports (STRs) and ensures compliance of banks, financial institutions and other reporting entities with the AML/CFT regulations.
Namibia - The opening of an Anti-Money Laundering and Combatting Financing of Terrorism and Proliferation Financing Investigation Workshop for Namibian law enforcement agencies and personnel took place in Windhoek at the Safari Hotel on Monday.
According to Sandra Garises of the central bank, government made funds available to enable the Bank of Namibia’s Financial Intelligence Centre to deliver 13 training workshops of five days each over the next four months and across the country, assisted by experts in this field who serve in various Australian law enforcement agencies.
She said that Namibia has already made significant strides in promulgating relevant legislation. Since 2004, the Prevention of Organised Crime Act 29 of 2004 was amended, the Financial Intelligence Act 13 of 2012 and also the Prevention and Combatting of Terrorist and Proliferation Activities Act 4 of 2014 were passed by Parliament. The workshops aim to empower local law enforcement to effectively investigation and prosecute money laundering, identify the proceeds of crime, freeze assets and track down the financing of terrorism and proliferation.
Speaking at the official opening of this first workshop which runs through to Friday, Leonie Dunn, Director of the Financial Intelligence Centre, said by 2005 Namibia had no laws dealing with such transgressions and was seen as non-compliant with international standards set under the United Nations’ Palermo Convention, Convention on Corruption, Convention of Combatting Transnational Organized Crime and its International Convention for the Suppression of Financing of Terrorism. “We will however have the opportunity in 2016 and 2017 to demonstrate to the world that our country has made significant strides since 2005 to effectively and efficiently adopt policies and laws which enable our beautiful country to comply with our international obligations,” she said.
Despite the legislative advances, Dunn said that implementation of the new laws remains a challenge.
At the same occasion Major-General Desiderius Shilunga, the Regional Commander for the Khomas Region of the Namibia police, said that, “these workshops are an important platform that help us as law enforcement agencies and other important stakeholders in curbing money laundering, terrorism financing and proliferation financing from taking place within the borders of our beautiful country Namibia.” According to the top cop, “we need to work hand in hand to stop criminal from using Namibia’s financial systems for their personal gain.”
He said that, “the focus now is going after proceeds of crime. No criminal should be-nefit from illegally obtained wealth and they will face the full wrath of the laws in place.”
The workshops will come to an end in November this year.