Financial Crime World

New Law in Namibia: Prevention of Organized Crime Act (POCA) Amendment Bill

The Bank of Namibia (BoN) is optimistic that the newly proposed amendment to the Prevention of Organized Crime Act (POCA) will significantly reduce financial crime in the country. The POCA amendment bill, which allows for lifestyle audits and unexplained wealth orders, was presented to the National Assembly last week by the Minister of Justice, Yvonne Dauseb.

BoN’s Support for the POCA Amendment Bill

The BoN has expressed its support for the bill as a crucial step toward strengthening Namibia’s financial crime prevention and combating framework. Kazembire Zemburuka, the BoN spokesperson, explained that:

  • Unexplained wealth orders could help deter wrongdoers from profiting from financial crimes, and maintain the integrity of the Namibian financial system.
  • These orders would require individuals to prove their wealth is legally obtained and justified.
  • The involvement of the Namibian judiciary and a requirement for due process would address privacy concerns.

The Bill’s Provisions

Once passed, the POCA amendment bill will grant the state the authority to investigate income and assets to ensure they match declared earnings or salaries. The prosecutor general can apply to the High Court for an unexplained wealth order, requiring the suspected party to provide an affidavit detailing their interest and origin of the property in question.

Balancing Individual Rights and Public Interest

Despite concerns over privacy, Rosevitha Ndumbu, a researcher at the Institute for Public Policy Research (IPPR), advocates for the balance between individual rights and public interest. She believes that:

  • Lifestyle audits and unexplained wealth orders can be conducted fairly while respecting due process and protecting sensitive personal information.
  • Proper legal safeguards can ensure a fair and transparent process that addresses public concerns without unnecessarily infringing on individual privacy.

Impact of the POCA Amendment Bill

The POCA amendment bill, which includes provisions to prevent privacy invasions and discrimination, is expected to:

  • Strengthen Namibia’s anti-corruption framework.
  • Foster transparency and restore public trust.

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