Financial crimes account for 43% of all offences in SADC
Financial crime undermines economic development
A workshop held last week in Windhoek aimed to provide a platform for stakeholders to exchange experiences, share best practices and strengthen expertise in combating financial crimes and corruption.
SADC secretariat representative Simbarashe Manjera says a 2022 SADC threat assessment report on transnational organised crime in the region found financial crime to be the largest crime market at the time, accounting for 43% of all criminal offences.
He made these remarks at a three-day workshop hosted by the Namibian Police and organised by SADC in collaboration with the Interpol regional bureau in Windhoek last week. The workshop was held to address financial crimes and anti-corruption in the SADC region.
The workshop aimed to provide a platform for stakeholders to exchange experiences, share best practices and strengthen expertise in combating financial crimes and corruption.
Speaking at the event, Interpol's Jeannette Haufiku highlighted the importance of stakeholder collaboration.
“It is essential that we prioritise cooperation and collaboration among all stakeholders, including law enforcement agencies, financial institutions and governments," she said.
"By working together, we can develop effective strategies to prevent and combat financial crime and corruption and ensure that those responsible are brought to justice, hitting the criminals where it hurts most,” she added.
Uneven playing field
In a speech read on his behalf by Commissioner Moritz !Naruseb, Namibia's police chief Joseph Shikongo said financial crime undermines economic development, erodes trust in institutions, compromises the rule of law and creates an uneven playing field that sees honest businesses and individuals being disadvantaged by those who engage in corrupt and illicit activities.
“In Namibia, financial crime and corruption manifest in various forms, including the misappropriation of public funds, the abuse of state resources, and the exploitation of our natural resources,” he said.
Shikongo added: “We have observed instances of corruption in the awarding of government contracts, the allocation of land and the management of our state-owned enterprises," he said.
"We have also recorded cases of money laundering, where illicit funds are laundered through our financial systems, compromising the integrity of our country,” he noted.
He made these remarks at a three-day workshop hosted by the Namibian Police and organised by SADC in collaboration with the Interpol regional bureau in Windhoek last week. The workshop was held to address financial crimes and anti-corruption in the SADC region.
The workshop aimed to provide a platform for stakeholders to exchange experiences, share best practices and strengthen expertise in combating financial crimes and corruption.
Speaking at the event, Interpol's Jeannette Haufiku highlighted the importance of stakeholder collaboration.
“It is essential that we prioritise cooperation and collaboration among all stakeholders, including law enforcement agencies, financial institutions and governments," she said.
"By working together, we can develop effective strategies to prevent and combat financial crime and corruption and ensure that those responsible are brought to justice, hitting the criminals where it hurts most,” she added.
Uneven playing field
In a speech read on his behalf by Commissioner Moritz !Naruseb, Namibia's police chief Joseph Shikongo said financial crime undermines economic development, erodes trust in institutions, compromises the rule of law and creates an uneven playing field that sees honest businesses and individuals being disadvantaged by those who engage in corrupt and illicit activities.
“In Namibia, financial crime and corruption manifest in various forms, including the misappropriation of public funds, the abuse of state resources, and the exploitation of our natural resources,” he said.
Shikongo added: “We have observed instances of corruption in the awarding of government contracts, the allocation of land and the management of our state-owned enterprises," he said.
"We have also recorded cases of money laundering, where illicit funds are laundered through our financial systems, compromising the integrity of our country,” he noted.
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