Commission seizes 40 bank accounts holding over $19 million, K200 million on suspicion of money laundering


Over 40 bank and mobile money accounts were as of December last year seized by the Drug Enforcement Commission(DEC) on suspicion of being proceeds of crime.

These accounts had balances of about US$19 million and K200 million

As of December 31, 2022, the Commission still had 961 active cases of anti-money laundering.

This is contained in the commission’s annual statistics for its anti-money laundering investigations unit for 2022 released on Sunday.

The report indicated that during the same period last year, the Commission forfeited over K1.3 million and US$148,743 to the State at the conclusion of five money laundering court cases.

Further, the law enforcement also arrested 113 people for various predicate offences and money laundering involving over K347 million.

According to DEC public relations officer Hussein Khan, the commission seized 41 bank accounts held at various commercial banks with a total bank balance of K174, 035,940.13 and US$ 19,777,181.33.

Read more: Online transactions breeding digital fraud, businesses warned to protect their processes

“The commissioner seized various mobile money accounts with a total balance of K10, 045,240.87 and cash amounting to K4, 109,242.47,” Khan said in a statement.

Khan said the law enforcement agency had a total of 66 cases which resulted in arrests of 113 people accused of various predicate offences and money laundering.

He said some of the dockets had been processed and the suspects are appearing before the Courts of Law while others are still being considered for possible prosecution by the National Prosecutions Authority (NPA).

“The commission re-affirms its commitment in combatting financial crimes and money laundering for a safer Zambia.

“We urge members of the public to join hands with the Commission in fighting the vices of illicit drug trafficking and money laundering in the country,” he said.

Khan said a total amounts involved in the 66 cases where arrests were made was K347, 955,017.45.

“In 2022, the unit actively investigated a total of 1,093 cases countrywide. Out of these cases, 66 were closed by arrests, 49 closed by other headings and 17 cases were referred to other law enforcement agencies for further investigations,” he said.

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