Zim moves to combat money laundering

GOVERNMENT has launched the third Money Laundering and Terrorist Financing Risk Assessment Report as it moves to strengthen efforts to combat financial crimes in the country.

Speaking at the launch event on behalf of Finance, Economic Development and Investment Promotion minister Mthuli Ncube yesterday, his deputy Kudakwashe David Mnangagwa highlighted the country’s milestones in aligning its anti-money laundering (ANL) and counter financing of terrorism (CFT) framework to international standards.

Mnnagagwa said the country is currently rated as largely compliant in 37 out of the Financial Action Task Force’s (FATF) 40 recommendations on AML and CFT, a rating that puts the country’s AML CFT legal and institutional framework among the best in the region and globally.

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