Select your Top Menu from wp menus
  • Instagram
Illicit financial flows under spotlight

Illicit financial flows under spotlight

Staff reporter

THE Namibia University of Science and Technology (NUST)  hosted a two-day workshop for journalists and media students on the awareness of Illicit Financial Flows and Money Laundering investigation. 


The workshop’s aim was to focus, facilitate, and draw on a multi-stakeholder approach to understanding the problem of corruption and illicit financial flows in Namibia, and how investigative journalists should act as watchdogs in uncovering corrupt practices in the Namibia’s economy.  


Speaking at the opening of the workshop, Jacquiline Pack, Bank Windhoek’s Executive Officer for Marketing and Corporate Communication Services, highlighted the important role the media and civil society plays in exposing corrupt practices.

CREATING AWARENESS: NUST hosted a two-day workshop for journalists and media students on the awareness of Illicit Financial Flows and Money Laundering investigation. Photo: Contributed

“Bank Windhoek, as a responsible corporate citizen with zero tolerance for theft, corruption and illegal activities has a robust system of detection and analysis of fraudulent activities and in compliance with the law reports suspicious transactions as soon as they are suspected or detected. From the basic Know Your Client vetting when dealing with customers to more sophisticated techniques of detection, Bank Windhoek is committed to play its part in the combating and prevention of illegal activities,” Pack said.


He also said that journalist should at all times expose such practices and ensure a pro-active approach in combating international crimes.


“More importantly, and the reason why we are here is the nation’s reliance on the media to investigate and expose illegal and corrupt practices and illegal financial flows. Often schemes are hatched which fails to be detected by even the strictest safeguards. It then falls on whistle-blowers and good citizens to report or provide information to expose such activities. By investigating and exposing such activities, we are contributing the progress of Namibia by showing the international community that the country takes a pro-active approach in the combating of international crime and corruption,” Pack added. 


Professor Reg Rumney, the former director of the SA Reserve Bank Centre for Economics Journalism at Rhodes University, also stressed the media’s role to help educate the public on how they can help to prevent illicit flows by either informing them of their duties as law-abiding citizens and what the law expects of them.

Related posts