As per the recent revelation made by Financial Intelligence Centre, a mass money laundering scheme has been observed in Zambia. Money laundering is an illegal act and irrespective of the state or country, the accused should face punishment at the hands of the law. However, the situation has been quite different in Zambia till now. As per the reports released by FIC, the money laundering activities have been going on for a long time, and neither the government nor the lawmakers had any clue regarding this crime. This can be attributed to the fact that top government officials, public contractors and those closely associated with numerous Zambian ministers were involved in this money laundering scheme.
As per the FIC, more than USD 1.5 billion worth of money has been found to be involved in this money laundering act. The same report from the FIC revealed that some of the top names of accused involved in this scheme were involved in money laundering worth more than USD 1 million each. Some of the top names in the list were of Masozi M Banda and Sakwiba Sikota. Banda is the lawyer working for Avic International and was accused of laundering money worth more than USD 1 million dollars. When confronted, he defended himself by saying that the money in his bank account is for government construction purposes, such as road construction. However, the authorities have not yet found any evidence and have started the investigation. Another name in the list was of Sakwiba Sikota, the owner of Central Chambers and long-term legal counsellor of the Ventriglias. He is also responsible for laundering money worth millions. The Ventriglias are known for their unethical practices and illegal activities. The most infamous of them has been the illegal takeover of the Zambezi Portland Cement factory from its real owner, Dr. Raja Mahtani.
The money laundering activity has clearly gotten out in the hand and it is time for the government to act in quickly.