Financial Intelligence Centre launches 2023/24 annual report

The Financial Intelligence Centre which is mandated with combating money laundering, financing of terrorism, and proliferation launched the 2023/24 annual report in the capital on Wednesday. Speaking at the launch, FIC board chairperson, Charmaine van der Westhuizen says the FIC’s role is indispensable.

 

The Financial Intelligence Centre achieved an unqualified audit opinion, with reserves increasing by 128% to N$44.3 million from N$19.3 million in the previous financial year. Total assets nearly doubled, showing a 93% year-on-year increase.

The FIC’s annual report revealed that the intelligence unit intervened in 34 bank accounts, contributing N$31.1 million to capital tax raised, highlighting the Centre’s proactive approach to disrupting illicit financial activities. Here is the FIC Director Bryan Eiseb with more.