Abstract
The objective of this article is to present a critique of the Financial Intelligence Centre Act of 2010 in Zambia. It is argued that although the government of the Republic of Zambia has been dragging its feet, it has shown some seriousness about fighting financial crimes, particularly money laundering and terrorism financing, in the recent past. This piece of legislation, which was recently enacted, is comprehensive enough and generally conforms to international standards. However, there are serious lapses in the law that will have negative implications in combating money laundering and terrorism financing in Zambia. For example, although the Financial Intelligence Centre will be an independent institution, the law has failed to clearly guarantee its operational autonomy and independence. Another major concern is the provision in the law for the Board of Directors to carry out functions of the Centre as opposed to providing the strategic direction of the institution. Critiquing this law provides insights that are valuable to financial experts, investigators, lawyers, academics, judicial officials and law makers not only in Zambia but in other countries as well. It is envisaged that this analysis will be considered when the law is reviewed in future.
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