Transparency International Zambia (TI-Z) welcomes the decision by the Financial Intelligence Centre (FIC) to freeze the bank accounts of Konkola Copper Mines’ (KCM) liquidator Mr. Milingo Lungu on account of suspicious transactions on them. We note that not long ago, the FIC alerted commercial banks to be on the lookout for suspicious transactions by certain individuals, and we are convinced that this decision broadly fits within that framework. Given the critical importance of the KCM issue and all the processes related to it, is frightening that there appears to have been suspicious transactions on the accounts of its liquidator, and the need to get to the bottom of the issue cannot be overemphasized. We are therefore confident in the FIC’s ability to investigate this particular matter and our hope is that the investigation will give Mr. Lungu the opportunity to provide answers to any queries that the FIC may put to him. Ultimately, our hope is that the liquidation of KCM is a process that has been devoid of any irregularities on the part of anyone involved in it, and if the opposite is found to be the case, then the due process of the law should take effect to ensure that any culprits identified are prosecuted.
In the same vein, we are also elated to learn that the 2020 FIC Trends Analysis report will be released this week. As we stated when the FIC released an annual report a few weeks ago, the Trends Analysis report is of more interest to citizens as it gives a more comprehensive picture of financial crimes in a particular period, including those to which politically exposed persons may be connected. We therefore look forward to the release of the 2020 Trends Analysis report.
Lastly, we would like to express our hope that the new UPND administration will allow the FIC and other law enforcement agencies the latitude to operate professionally and without any undue influence being exerted on them.
Maurice K. Nyambe
TI-Z Executive Director
