Financial Intelligence Centre puts casinos, filling stations on money laundering watch

The Financial Intelligence Centre (FIC) has raised concern over cash-heavy businesses such as casinos and filling stations, warning that they were particularly vulnerable to money laundering and other financial crimes.

FIC Director of Compliance and Prevention, Diphat Tembo, said industries that dealt with large volumes of cash on a daily basis were at high risk of being exploited by criminals seeking to conceal illicit funds.

He was speaking in Livingstone during the 2025 Insurance Conference.

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“Where there is significant cash turnover, there is always the danger of abuse. Casinos and filling stations, for instance, can be misused by individuals with criminal intentions to move illegal money,” Tembo said.

Tembo explained that the FIC was monitoring such sectors closely to ensure that investments were legitimate and that Zambia did not become a channel for illicit financial flows.

He further highlighted the importance of working with the banking sector in curbing financial crimes.

“Most financial transactions eventually pass through banks, which is why about 95 percent of suspicious transaction reports come from them. We therefore work hand-in-hand with the Bank of Zambia on anti-money laundering supervision,” he said.

According to Tembo, strengthening oversight in both cash-intensive industries and the financial system is key to safeguarding the economy against money laundering and related crimes.

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