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Namibia’s Banks Get Compliant with New Training Initiative
Strengthening Financial Regulations and Combating Financial Crimes
Windhoek, Namibia - In a bid to strengthen financial regulations and combat financial crimes in the country, the Financial Intelligence Centre (FIC) has launched a comprehensive compliance training program for banks operating in Namibia.
Training Initiative Aims to Enhance Anti-Money Laundering and Combating Terrorism Measures
The training initiative is aimed at ensuring that banking institutions in the country are equipped with the necessary skills and knowledge to effectively implement anti-money laundering (AML) and combating the financing of terrorism (CFT) measures. The FIC’s Compliance Training Program will focus on providing banks with practical guidance on how to identify, report, and prevent suspicious transactions.
Comprehensive Training Program Designed for Various Staff Levels
The training program is designed to cater for different levels of staff within banking institutions, from senior management to front-line staff. It will cover a range of topics, including:
- The legal framework governing AML/CFT
- Customer due diligence
- Transaction monitoring and reporting requirements
FIC Officials Stress Importance of Compliance Training
According to FIC officials, the compliance training program is essential in ensuring that banks in Namibia are able to meet their regulatory obligations and prevent financial crimes such as money laundering and terrorist financing.
Contact Information for General Enquiries and Specific Queries
For general enquiries, please contact the Financial Intelligence Centre’s hotline at +264 61 283 5287. For specific queries related to STR/SAR reporting, please call +264 61 283 5316 or +264 61 283 5179. Compliance-related enquiries can be made via +264 61 283 5000, +264 61 283 5043 or +264 61 283 5324.
For legal and appeal-related matters, please call +264 61 283 5037, while technical assistance is available on +264 61 283 5243. A cross-border cash declaration hotline can be reached at +264 818584262. Email queries can be sent to helpdesk@fic.na.