Coen Welsh | Nov 14, 2017 | 0
Namibia winning against money laundering
This follows a Financial Action Task Force (FATF) Plenary meeting held late last month in France. Director: Department of Strategic Communications and Financial Sector Development at the Bank of Namibia, Ndangi Katoma made the announcement this week.
According to him, the task force meeting complemented Namibia for adopting National Anti-Money Laundering, Combating the Financing of Terrorism and Combating Proliferation Financing Policy, Laws and Implementation Frameworks.
“This adoption not only effectively assists Namibia to protect her national and international money laundering and terrorism finance amongst others, it also places the country on an accelerated pace to comply with both technical and effectiveness criteria endorsed in the Financial Action Task Force 2012 recommendations,” Katoma said.
“Namibia is the first African country and one of only a few jurisdictions in the world which have successfully conducted a National Money Laundering and Terrorism Finance Risk and Threat Assessment,” Katoma proudly explained.
He added, “It is important for Namibia to ensure that we do not allow financial crimes such as money laundering, corruption, terrorist financing and illegal drug trade to continue destroying our social fabric.”