Security sector trained on financial crime

About 30 Namibians from the financial intelligence, police and prosecution sectors are currently receiving training by the European Union (EU) on fighting financial crime.

The week-long workshop started in Windhoek yesterday and was opened by EU ambassador to Namibia Ana Beatriz Martins.

Martins said the EU is delighted to offer Namibia its support and to help strengthen the country’s framework for fighting illicit financial flows, money laundering and other forms of organised crime.

“The EU is increasingly present alongside its partners in Africa to contribute to the stability of states and to allow for informed, effective and sound financial systems,” she said.

The workshop aims to equip Namibian officials from key agencies, such as the Namibian Police, the Anti-Corruption Commission and the Office of the Prosecutor General, with enhanced capabilities in financial intelligence analysis, investigation techniques and the prosecution of financial crimes.

In February, the Financial Action Task Force placed Namibia under increased monitoring, commonly known as greylisting, for the shortcomings in compliance with international standards of anti-money laundering, countering the financing of terrorism and countering proliferation financing.

Meanwhile, the director of Namibia’s Financial Intelligence Centre, Bryan Eiseb, called for a collective effort to consolidate efforts among state agencies, the private sector and international partners to disrupt financial crime.

“Together, let us continue to strive for excellence and make a lasting impact in safeguarding the integrity of our financial systems and protecting the interests of society at large.

“We must use all tools available in our criminal justice arsenal to identify the proceeds of financial crimes and intervene in these proceeds so that we demonstrate that crime does not pay,” he said.