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Zambian cryptocurrency workshop

Restitution was honoured to be invited to host a workshop on cryptocurrency on the 13 July 2022, for Zambia’s Anti-Money Laundering Authority (AMLA).    With the assistance of Ms Liya B Tembo, the Acting DG of the Financial Intelligence Centre, the workshop was run remotely and was well attended with over 100 participants.  Ms Mary Chirwa, the DG of the Drug Enforcement Commission, kindly opened the event with the Opening Remarks.   She spoke about one of AMLA’s key strengths being partnership, a partnership of all the key stakeholders working towards the common goal of effectively tackling money laundering in Zambia, something which highlighted the importance of both public and private partnerships in the fields of AML and combatting corruption.    Restitution’s Investor Relations Director gave a brief update on Restitution and its work.

The workshop was run by one of Restitution’s partners, Asset Reality, an organisation which provides services and tools to public and private sector companies investigating, tracing, recovering, and managing assets.   Aidan Larkin, CEO and Kevin Hart, Advisor, led the workshop which produced some good interaction and engagement with the participants.  Their short film about the stone coins used by villagers on the Micronesian island of Yap was particularly helpful.

Notes:

  1. AMLA is mandated to provide general and specific policy directives to the Zambia Revenue Authority and advise the Minister of Finance on measures required to prevent and detect money laundering in the Republic. It is chaired by the AG and is a partnership of Ministry of Justice, the Ministry of Finance, the National Prosecutions Authority, the Zambia Police Service, the Bank of Zambia, the Zambia Revenue Authority, the DEC, the Anti-Corruption Commission, the FIC, and the National Anti-Terrorism Centre.
  2. Currently, 1 trillion dollars in Illicit Financial Flows is stolen every year and remains an untapped asset class. This money belongs to state sovereigns. IFFs account for 5% of Africa’s GDP, 12% of trade and nearly 200% of official development assistance in 2018. If IFFs were tackled effectively, Africa would become a net creditor.

For further information on this or future events please contact our Director, Capacity Building – admin@restitution.org.uk

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