BY DELISA THWALA
MBABANE – An Eswatini delegation was sent to attend the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) Meeting in Botswana.
This is where money laundering and terrorism financing matters affecting the region are being discussed.
The ESAAMLG assesses countries’ compliance with the Financial Action Task Force recommendations on money laundering and terrorism financing.
The Eswatini delegation attending this meeting includes Principal Secretary (PS) in the Ministry of Finance, Sizakele Dlamini, Registrar of Companies in the Ministry of Commerce, Industry and Trade Msebe Malinga, among others.
The ongoing meetings and discussions are centred around money laundering and terrorism financing matters affecting the region.
According to the Internet, money laundering is the process of concealing the origin of funds obtained from illicit or illegal activities by converting them into a legitimate source.
It is worth noting that recently, the ESAAMLG made recommendations for Eswatini to follow in order to combat money laundering and financing of terrorism.
The recommendations were carried out in the recently released mutual evaluation report assessment by the ESAAMLG. Following this report, the government, through the National Task Force (Council and Technical Committee) developed an action plan to remediate the findings.
The Kingdom of Eswatini has joined countries around the globe in the fight against money laundering and terrorist financing by promulgating the Money Laundering and Financing of Terrorism (Prevention) Act, 2011 as amended.
