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Zambia probes 222 million-kwacha money-laundering network

By , based on News Diggers

Zambia probes 222 million-kwacha money-laundering networkIllustrative image · RDNE Stock project · Pexels · Licence Pexels

Zambia’s Financial Intelligence Centre is investigating an alleged cross-border money-laundering network after detecting more than 222 million kwacha and $5.7 million received by a company over three months. Its annual money-laundering trends report describes companies with varied activities allegedly used to move funds between countries, according to the centre.

The Zambian Financial Intelligence Centre (FIC) is investigating an alleged cross-border money-laundering network that moved more than 222 million kwacha and $5.7 million over three months, according to its 11th report on money-laundering trends. The funds were received by a company registered to provide business support services, through several payment companies.

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