Namibia Financial Institutions Supervisory Authority (“NAMFISA”) is the designated Anti-Money Laundering (“AML”), Combatting Financing of Terrorism (“CFT”) and Combatting Proliferation Financing (“CPF”) supervisory body (Authority) for accountable institutions (“AIs”) and reporting institutions (“RIs”) under its jurisdiction in terms of sec 35 of the Financial Intelligence Act, No. 13 of 2012 (“FIA”) read with the NAMFISA Read more about WHY ARE FINANCIAL INSTITUTIONS SO INSISTENT ON KYC AND AML/CFT/ CPF COMPLIANCE?[…]

Why are financial and other institutions asking so many questions these days? Whether opening a bank account, buying property or a car, taking out insurance policies, making an investment, taking out a loan or sending money overseas, the same information (and a copy of identification) is asked of the consumer over and over again. In Read more about ANTI-MONEY LAUNDERING CONSUMER RIGHTS[…]