Banks told to fight money laundering

Government has called for enhanced collaboration among financial institutions to fight money laundering and combat the financing of terrorism.

Acting Finance Minister ELIJAH MUCHIMA says the fight against financial crime is not the responsibility of a single entity but a collective effort.

This was in a speech read on his behalf by Accountant General NSANDI MANZA during the second industry symposium in Lusaka.

At the same event Bank of Zambia Deputy Governor FRANCIS CHIPIMO commended financial institutions for their collaboration towards fighting money laundering and combating the financing of terrorism.

And Bankers Association of Zambia Chairperson LOWANI CHIBESAKUNDA said there is need to bring together actors in public and private sector to join the fight.