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FIC IS MANDATED TO PUBLISH TRENDS REPORT – CHIRWA

Chirwa

Financial Intelligence Centre (FIC) Director Mary Chirwa

FINANCIAL Intelligence Center (FIC) Director Mary Chirwa says the center has a mandate to publish the trends reports on financial crimes.

In a press statement, Chirwa said the FIC draws its mandate from the Financial Intelligence Centre Act No. 4 of the 2016 amended constitution

“The law recognises the FIC as the sole designated national agency authorized to receive, request for, analyze and evaluate suspicious transaction reports and information from any other source authorized under any written law to make a suspicious transaction report including a designated foreign authority to determine whether there are reasonable ground to transmit reports for investigation by law enforcement agencies or foreign designated authorities,” she said.

She said the goal of the trends report is to inform the public and other stakeholders of measures to detect and prevent money laundering and financing of terrorism.

“The objective of the trends report is to inform the public and other stakeholders of measures to detect, prevent, deter money laundering and financing of terrorism or proliferation pursuant to section 5(2)(e).,” Chirwa said.

Chirwa said the FIC does not distribute its intelligence report to the public but to designated agencies as required by law.

She said that intelligence reports are distributed to law enforcement agencies who can take appropriate action.

The FIC Director further said the trendsreport may influence policy formulation by government to address money laundering and terrorist financing.


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