FIC probe widens
Published On July 24, 2024 » 470 Views» By Times Reporter » HOME SLIDE SHOW, SHOWCASE
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. Tembo

By CHUSA SICHONE –
THE Financial Intelligence Centre (FIC) says it will enhance its supervision and start inspecting designated non-financial businesses and professionals to sanction those who were not submitting Suspicious Transaction Reports (STRs).
FIC Compliance and Prevention director Diphat Tembo said the centre had noted with great concern the low levels of compliance in submitting STRs by designated non-financial businesses and professionals and yet there were a lot of transactions that they were conducting.
Mr Tembo said 98 per cent of the STRs that were submitted to the FIC were from the banking sector and money value transfers, but that most casinos, law firms, accounting firms, dealers in precious stones and minerals, real estate agents as well as trust and company service providers were non-compliant.

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