Anti-Corruption Commission (ACC) Director General, Paulus Noa has said there is a need to address loopholes in the laws regulating transnational organised crime and preventing Namibia from being grey-listed by the Financial Action Task Force (FATF).
Noa said this on Tuesday during the signing ceremony of a Memorandum of Agreement by the ACC, NamPol, and the Financial Intelligence Centre on the expansion of NamPol’s secure global police communications system, Interpol I-24/7.
NamPol’s Interpol National Central Bureau (NCB) Division is connected to the I-24/7 system, a secure global police communications system which links the law enforcement of 195 countries, allowing them to share sensitive and urgent police information with their counterparts around the globe.
Noa stressed that law enforcement agencies and relevant regulatory institutions need to collectively address the prevention of money laundering, terrorist financing and proliferation financing, noting that single investigations of such crimes by regulatory bodies operating in silos may evaporate to more crimes.
“We have investigated cases of even children’s funds being stolen by their lawyers. These things are happening because in one way or another there are loopholes in the laws regulating transnational crimes and they need to be corrected to avoid the grey-listing of Namibia,” he stressed.
Echoing his sentiments, Bank of Namibia Governor Johannes !Gawaxab said Namibia has signed up to uphold certain standards relating to transnational crimes under the United Nations, noting all law enforcement agencies need to demonstrate a regime that meets the requirements.
He noted that the bank has amended 11 laws that were found ineffective in an effort to holistically combat transnational crimes. The agreement will allow regulatory bodies to gain electronic access to Interpol’s database to use this information when combating crimes, !Gawaxab said.
At the same event, NamPol Inspector General Joseph Shikongo said the Interpol National Central Bureau is expanding the I-24/7 system to relevant stakeholders to prevent crimes and improve security in the country.
He noted that the ACC and FIC will serve as national centres for the receipt and analysis of suspicious transaction reports and other information relevant to money laundering, terrorism financing and associated predicate offences.
Source: The Namibian Press Agency