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Botswana ups ante against money laundering, terrorism financing

Botswana is beginning to implement the National Strategy to combat Money Laundering; Combat an Act of Terrorism; Combat Financing of Proliferation of Arms of War, Biological and Chemical Weapons which was approved by Cabinet in October this year, APA learned Friday.As part of efforts to enforce the strategy, a Memorandum of Understanding (MOU) was signed between the Directorate on Corruption and Economic Crime (DCEC) and Directorate of Public Prosecution (DPP) on 29th November.

The strategy requires institutions like DCEC & DPP, who are in the forefront of combating Money Laundering to sign MOUs, Memorandum of Agreements (MOA’s) and Service Level Agreements (SLA’s) as they assist each other in dealing with money laundering.

“There was need therefore to sign off this MOU, as this was a long overdue task,” said DPP Director Stephen Tiroyakgosi at the signing ceremony.

 For his part, DCEC Director, Brigadier Joseph Mathambo stated that corruption related crimes are by nature very complex, resource taxing, time consuming and that he would like to thank the public for their unwavering support in the fight against corruption.

The Eastern and Southern African Anti Money Laundering Group (ESAAMLG) review of 2014, of which Botswana is a signatory, noted that institutions dealing with money laundering and other law enforcement issues, including prosecution thereof, operated with no agreements.

 



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