Zambia’s minister of Home Affairs and Internal Security, Jack Mwiimbu, has welcomed the impact that the recently introduced cyber crime laws are having in the country's fight against financial crime.
Mwiimbu said this in response to the recent release of the tenth edition of the Financial Intelligence Centre (FIC) report, which highlights significant progress in Zambia’s fight against money laundering, fraud and tax evasion.
He said the FIC findings, including a reduction in public sector corruption cases, reinforce the government’s commitment to a transparent financial system.
According to the report, emerging challenges, including cyber fraud, regulatory evasions and illicit fund transfers via prepaid branded cards, are being addressed.
“These results show we are making progress in the war against financial crime, ensuring Zambia’s economy can thrive based on integrity and accountability," he said.
“The recent introduction of robust cyber laws has further strengthened our efforts by enhancing our ability to detect and combat sophisticated financial crimes in the digital space.”
Mwiimbu added that the government’s collaboration with state agencies – such as the FIC, Law Enforcement Directorate and Zambia Revenue Authority– to strengthen regulatory frameworks and safeguard the financial ecosystem, aligns with the vision for a corruption-free Zambia.
Government reports that through collaboration with the ZRA, tax assessments reached K28.9 billion (US$1.24 billion) in 2024, up from K1.2 billion ($51.6 million) in 2023.
LED secured three conviction-based forfeitures and seven non-conviction-based forfeitures, recovering assets worth $2.5 million and K70 million ($3 million) in properties, plus K1.5 million ($64 585) and $24 million in bank accounts.
According to the report, during the period under review, the FIC detected suspected illicit financial flows worth $3.5 billion, mostly perpetuated by multinational enterprises.
President Hakainde Hichilema assented to the cyber laws in April this year amid objection by opposition parties, who deemed the legislation as a ploy to shield the government from criticism.
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