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MONEY LAUNDERING CASES INVOLVING £25M PROBED

THE Drug Enforcement Commission (DEC) has revealed that it investigated money laundering related cases involving over £25 million last year.

According to the Commission’s Deputy Public Relations Officer Theresa Katongo the organisation also probed cases involving over K219 million and US$3.6 million during the same period.

Ms Katongo added that from all the money laundering cases investigated, 123 persons were arrested and charged.

“The reports on different predicate offences to money laundering came from the public and private sectors where 57 percent involved various frauds, 29 percent theft/embezzlement, and 14 percent other types of predicate offences all amounting to £25 million, K219, 471,184.51 and US$3, 677,716.24,” she said.  

Further, the Commission through its Anti-Money Laundering Investigations Unit (AMLIU) seized a total of 103 real estate properties, 72 motor vehicles, and over K104 million held in various bank accounts and cash amounts of US$607. 8 million.

Ms Katongo noted that all the seized items were as a result of the commenced investigations, which proved beyond reasonable doubt to be proceeds and instrumentalities of crime.

The Commission also concluded a total of 138 cases in 2020 which led to the arrest of 123 persons in 71 cases for money laundering related offences involving K 111, 984,089.58 and USD 6,000.

With respect to cases from the current and previous years concluded in court, the Commission recorded fifteen (15) convictions involving fifteen (15) persons, and forfeiture of K30, 000 cash and K6, 973 held in bank accounts.

Meanwhile, the Commission in the year under review also seized a total of about USD$96,700 counterfeit notes.

In terms of drug related offences, Ms Katongo said the Commission arrested a total of 4,335 persons in 2020 as compared to 2019 where 5 352 persons were arrested.

Juveniles accounted for 316 while foreign nationals were 64.

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