NOOSE TIGHTENING ON MONEY LAUNDERERS

The money laundering law is breathing down those that had the appetite to be fraudulent, Director General of Financial Intelligence Agency (FIA), Atuwemi Juwayeyi-Agbermodji has warned. As the law stipulates, the accountancy profession is mandated to report suspicious transactions to FIA and failure to has its own penalties.
Speaking to the ICAM CEO during a brief meeting at Golden Peacock hotel in Lilongwe, the fraud busting Czar, however, bemoaned that her Institution has not done enough to sensitive the accountancy profession.
Juwayeyi-Agbermodji said: ‘The problem is that we have not come to sensitize you on your obligations to that effect. Because even the accountants themselves are supposed to report to us directly if their clients bring to them something that is suspicious, even the auditors, same thing.’
In his remarks, ICAM CEO Dr. Francis Gondwe said that ICAM will provide FIA a viable platform to sensitize its members and students on the money laundering law.
Dr. Gondwe clarified: ‘The ICAM conference, dinner and dances, executive retreat and new members conferences are all open to FIA as mediums for communication. We would also request you to be a regular contributor in the ICAM magazine.
The two Institutions agreed to formalize a working relationship

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