By NATION REPORTEROVER K165 million is suspected to have been lost to Illegal mining in precious metals and stones last year, the 2020 Financial Intelligence Centre (FIC) trends report has stated.The report also states that the value of disseminated intelligence reports in 2020 increased to K3.1 billion compared to K984 million in 2019.It indicated that the prominent predicate offences observed in the intelligence reports disseminated were tax evasion and corruption.The report states that of the K3.1 billion worth of suspicious transactions, K165 million was lost to Illegal mining in precious metals and stones.The report states that in the year ending December 31st 2020, the FIC disseminated a total of 61 intelligence reports compared to 44 reports analysed in 2019.According to FIC director general, Mary Chirwa, during the period under review, the FIC received 2,266 Suspicious Transaction Reports (STRs), representing an increase of 203 percent from the previous year.Ms Chirwa said there was a further 39 […]
OVER K165 MILLION LOST IN ILLEGAL MINING – FIC REPORT
