NAMFISA’s Role in Combating Money Laundering
The Namibia Financial Institutions Supervisory Authority (NAMFISA), established under Act No. 3 of 2001, regulates financial institutions and advises the Minister of Finance.
NAMFISA is also the designated AML/CFT supervisory body for accountable and reporting institutions listed in Schedules 1 and 2 of the Financial Intelligence Act (FIA) No. 13 of 2012.
Its key responsibilities include:
Why Must We Fight Money Laundering?
Society and on the Economy.
crime has a negative impact on society and on the economy. Crimes like drug
trafficking, human trafficking and organized prostitution erode the very fabric of
society. When criminals are in charge of a country’s economy, the economy becomes
highly cash based and the inflation rate very high.
Safeguard international financial system
countries that do not combat money laundering are regarded as posing a risk
to the international financial system, which leads to such countries losing investors and other countries being reluctant to trade with them.
NAMFISA Complaints Department: (061) 290 5000 (main) or 290 5133 (Ms Marina K. Ishidhimbwa) or 290 5207 (Ms Hilka Alberto), Fax: (061) 290 5122; for online complaints email complaints@namfisa.com.na; visit www.namfisa.com.na or visit us
on the: 6th Floor, Alexander Forbes House, 154 Independence Avenue, Windhoek. * NAMFISA treats all information obtained from the public with confidentiality.
Issued by: Phillip N. Shiimi
CHIEF EXECUTIVE OFFICER
