Namibia Joins Egmont Group Of Financial Intelligence Units

WINDHOEK, July 10 (BERNAMA-NNN-NAMPA) -- Namibia has joined the Egmont Group of Financial Intelligence Units, an international formal network of financial intelligence units to combat financial crime.

Ndangi Katoma, director of Strategic Communications and Financial Sector Development at Bank of Namibia (BoN), said in a statement here Wednesday that Namibia was officially admitted as a member of the group in Lima, Peru on June 4 this year.

The membership was granted following an application by the BoN on behalf of Namibia.

Katoma noted that this was done to strengthen the country's national agenda to proactively combat crime and prevent criminals from enjoying the proceeds of their criminal activities.

"This is important for Namibia to ensure that we do not allow financial crimes such as money-laundering and illegal drugs trade to continue destroying our social fabric and put the future of our children in jeopardy," he said.

The statement also quoted Leonie Dunn, director of Financial Intelligence Unit at BoN as saying that Namibia was committed to fighting financial crime in all its forms through established legal and operational frameworks.

"This enables the Financial Intelligence Unit, in cooperation with the Namibian Police Force, Anti-Corruption Commission and Departments of Customs and Excise and Inland Revenue to rapidly identify proceeds of crime and remove assets acquired from proceeds of crime from the hands of criminals," Dunn said.

Five other countries in the Southern African Development Community (SADC) region -- Malawi, Mauritius, Tanzania, Seychelles and South Africa -- are also members of the group.


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