Staff Writer
The Financial Intelligence Centre (FIC) reported that it received a total of 15 226 suspicious transaction reports (STRs) by the end of 2025.
The banking sector accounted for the majority of submissions, contributing 79% of all STRs (12 028 reports). Authorised Dealers with Limited Authority (ADLAs) accounted for 12% (1 798 reports), while legal practitioners submitted 2% (339 reports).
According to the report, the dominance of the banking sector in STR submissions reflects its central role in the financial system, higher transaction volumes and more advanced detection systems.
Authorities noted that reporting levels are also influenced by sector-specific risk exposure, rather than underperformance by other institutions.
The Financial Intelligence Centre said the sustained increase in STR submissions reflects ongoing supervisory engagement and strengthened compliance measures across reporting institutions.
In terms of international cooperation, the Financial Intelligence Centre Analysis Division (FIAD) sent 15 requests for information to foreign financial intelligence units during the reporting period, down from 24 in the previous financial year.
Most requests were directed to South Africa, reflecting close trade and financial linkages between the two countries.
Officials said such requests are made on a case-by-case basis and are driven by operational investigations.
They added that cross-border cooperation remains essential in tracking illicit financial flows and supporting law enforcement efforts in cases with international dimensions.
Meanwhile, the FIC said the Namibia corridor continues to pose a significant threat to Namibia’s financial system and national security, according to recent intelligence analysis highlighting evolving criminal networks and financial crime risks.
The analysis shows a sustained pattern in which Namibian nationals, often vulnerable young women, are recruited as drug couriers.
Criminal syndicates are said to exploit victims through coercion, deception and promises of financial reward.
These networks reportedly rely on multi-leg travel routes, informal support systems and unregulated financial channels to move cocaine and launder illicit proceeds.
Authorities have identified several key risk indicators associated with trafficking activity.
These include vague travel purposes, lack of confirmed accommodation or return plans, and last-minute or one-way travel bookings.
Other red flags include nervous or evasive behaviour during travel, unexplained cash deposits or remittances, third-party funding of travel costs, spending patterns inconsistent with declared income, and the use of informal or non-transparent financial channels.
The findings form part of broader crime and intelligence reporting trends covering Namibia’s financial sector.
Most reports received during the period relate to potential money laundering activity and associated predicate offences, with tax-related crimes emerging as the most common underlying offence.
