The Financial Intelligence Authority (FIA) coordinated and participated in a week-long awareness workshop for Non-Profit Organisation -NPOs, financial institutions, regulators, supervisors and law enforcement agencies in Malawi on Financial Action Taskforce - FATF Recommendation 8.
The event was being facilitated and financially supported by the European Union SecFin Africa Project. In her opening remarks, FIA Director of Compliance and Prevention, Mrs. Anita Mankhambo, said the NPO sector can be vulnerable to misuse for illicit purposes such as Terrorist Financing -TF which is why the FIA will continue to work with all stakeholders to ensure the sector is well regulated and safeguarded against TF abuse.
Speaking at the same function, Non-Governmental Organisations Regulatory Authority - NGORA's Director of Registration and Compliance Services, Patrick Mwale, said that NGORA believes that protecting the integrity of the NPO sector is more than just compliance but also ensuring that the vital work that NGOs do continues without being undermined by any misuse or abuse.
According to SecFin’s Prevention Expert on Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation - AML/CFT/CFP, Ms. Olwethu Majola, the Project wants to strengthen financial flows programs and promote uniform standards in countries across all Southern African countries.
The SecFin Africa Project supports Sub-Saharan African countries in preventing and combating illicit financial flows - IFFs linked to transnational organized crime. It strengthens AML/CTF efforts in line with International Standards. Supporting the development and implementation of this curriculum is one of SecFin's key capacity-building initiatives aimed at curbing IFFs across the region.
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Watch Tisanthule Malamulo program on Mibawa Tv as the Financial Intelligence Authority-Malawi explains more on its roles and the fight against financial crimes in Malawi
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