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About the authors ix Bothwell Fundira holds a B.Acc. degree from the University of Zimbabwe as well as an MBA from the University of Warwick. He is a Fellow of the Chartered Institute of Management Accountants in Zimbabwe. With more than 21 years of experience in the financial and banking sector, Bothwell is familiar with a wide range of financial products, some of which could be abused for money laundering. He has written several papers on money laundering in Zimbabwe. At present he is the Deputy Chief Executive of a large pension fund in Zimbabwe with responsibilities including finance, human resources, administration and investments.
x Tackling money laundering in East and Southern Africa EXECUTIVE SUMMARY This second volume of a two-volume monograph on money laundering in the SADC region begins with Ray Goba’s examination of the capacity of the financial and commercial services sectors in Namibia to detect, prevent or assist in the prosecution of money laundering crimes. He gives an extensive coverage of the situation in Namibia, as experienced through recent cases. Tanzania does not have anti-money laundering laws. In Chapter 2 of this volume, Eugene Mniwasa examines the measures adopted to address the problem of money laundering and the financing of terrorism in Tanzania. In the face of formidable challenges, all sectors in Uganda that are charged with detecting activities predicate to money laundering are engaged in efforts to combat money laundering itself, as well. The lack of laws that specifically deal with money laundering continues to be an impediment. At the time of writing, money laundering was not a distinct crime in Uganda. To get around the inadequacy in legislation, most financial and commercial institutions have put internal or sector measures in place to detect it . Most of these institutions, such as the banks, have global linkages and thus benefit from the macro policies of parent institutions. The major multilateral banks all have internal systems developed by their main offices to be used by all their branches globally. These efforts have been complemented by anti-money laundering guidelines adopted by the Bank of Uganda in 2002 for banks and other financial institutions. In Chapter 3 of this volume, Peter Edopu expresses the hope that when Uganda eventually passes an anti-money laundering law, the policies and procedures taking shape under the umbrella of the guidelines will be carried forward. In the final chapter Bothwell Fundira uses South Africa’s Financial Intelligence Centre Act, (38/2000), as a benchmark against which to measure the adequacy of existing and proposed measures against money laundering in Zimbabwe. He examines the capacity of the key institutions in the light of case studies.
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