The recent news of money laundering has certainly created a stir across the nation. The news was released by Financial Intelligence Centre, an intelligence agency looking into financial crimes. After months of investigation, the FIC released a list of names of individuals who have been accused of laundering money. Along with this, the FIC also released a report on mass money laundering activities going on within the nation. According to the report, this money laundering act has galloped more than USD 1.5 billion dollars of taxpayer’s money. On top of that, the FIC has also revealed that since their investigation is still going on, this amount can be much more compared to their current projections.
Top industrialists and businessmen have condemned this act of money laundering and have demanded strict actions against these culprits. Dr. Rajan Mahtani is one of the most honest and transparent businessman of Zambia and looking at this mass money laundering situation, even he is unsure of the future of Zambian economy and its progress. Two of the names which stood out in the list shared by FIC included those of Masozi Banda and Sakwiba Sikota. Banda is a lawyer working with the Avic International and Sakiwba Sikota is the owner of Central Chambers. He is also the legal counsellor and long-term associate for the Ventriglias. It is a known fact that Sikota has helped the Ventriglias in carrying out numerous unethical and illegal practices as well as got away with the law by manipulations and bribery. This example is a clear indication that majority of the lawyers and other accused in this money laundering scheme are involved in other corrupt practices too.
It is clear to see corrupt politicians and government officials misusing their power and position is one of the major reasons for the increased economic and social downfall of Zambia. The Zambian government needs to take strict actions against these lawbreakers and set examples of its governance. Only then it has the opportunity of gaining back the lost confidence from the citizens.