FIU, Institute of Chartered Accountants in Malawi sign MoU to fight financial crimes

The Financial Intelligence Authority (FIU), one of Malawi’s most important public institutions and the Institute of Chartered Accountants in Malawi have signed MOU to fight financial crimes in the country.

Signingof MOU to fight financial crimes in the country.

The two organizations say they are committed to fight financial crimes and ensure a Malawi that is free of financial crimes

Established under the Money Laundering, Proceeds of Serious Crimes and Terrorist Financing Act (2006), the unit—which purports to be an autonomous central national body—became operational in July 2007.

The unit is responsible for coordinating and strengthening efforts of national and international intelligence and enforcement agencies in pursuing the global efforts to fight against money laundering, terrorist financing and related crimes as well as identifying the proceeds of serious crimes and to combat money laundering and terrorist financing activities.

However, FIU has to rely on the toothless Anti-Corruption Bureau (ACB), the feet-dragging Director of Public Prosecutions (DPP), the incompetent Fiscal and Fraud Police Unit (FFU), the heavily politicised and moribund National Intelligence Service (NIS) and the inefficient Malawi Revenue Authority (MRA).

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Benjones87
Benjones87
5 months ago

Waste of time money and energy.

Evans Kachale
5 months ago

FiFighting financial crimes!! Not with the generation. There are some left over staff from 1994, who are well experienced in the crimes department!

Katswiri
Katswiri
5 months ago

FIU is useless.

ERUTU
ERUTU
5 months ago

Ntchito idakali 😓🇲🇼

Matambiko
Matambiko
5 months ago

FIU to fight financial crimes! My foot mxiiii. Where was FIU during the cash gate pandemic? As far as some of us are concerned they were a party to all the cash gate shirdigans and most of its officials benefitted from it. Go to [email protected]@

Executive Mtonga
Executive Mtonga
5 months ago

and I quote, “the incompetent Fiscal and Fraud Police Unit”

These guys are really incompetent with no direction on what to do, how and when. This unit must be overhauled if it is to gain it status, if all it ever owned a good status.

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