Financial Action Task Force (FATF)

02 Mar

SA greylisting not affecting Namibia: BoN

ObserverMainFinancial Action Task Force (FATF), Kazembire Zemburuka, SA greylisting not affecting Namibia: BoN

Martin Endjala The Bank of Namibia has clarified its position amidst reports of South Africa’s greylisting by the Financial Action Task Force (FATF) stating that Namibia’s financial transactions with the rest of the world and capital flows to and from the jurisdiction will continue uninterrupted. This is despite the country’s ties and exposure to the South African financial system. The Bank of Namibia Director Strategic Communications and International Relations, Kazembire Zemburuka, confirmed this in a statement in response to concerns raised by some economists and Namibians at large. He said that as an independent and sovereign state, Namibia is going…

28 Feb

SA greylisting a wake up call for Namibia

ObserverFeatured, National NewsFinancial Action Task Force (FATF), local Economist Theo Klein, SA greylisting a wake up call for Namibia

Martin Endjala The Institute for Public Policy Research (IPPR) Director Graham Hopwood has cautioned the Namibian government to use South Africa’s greylisting by the Financial Action Task Force (FATF) as a warning to relook its anti-money laundering systems, to align it with international laws and international standards. The FATF is the global money laundering and terrorist financial watchdog. “Namibia also has to meet the same standards in terms of tackling anti-money laundering,while introducing effective systems and if we don’t we will also be grey-listed by the FATF”, said Hopwood in an interview. He added that this is a warning sign…