Malawi Parliament summons FIU over 400 cases of fraud

More happenings in the financial maladministration in government as the Financial Intelligence Unit (FIU) was summoned by the Public Accounts Committee of Parliament to explain what it is doing about the much publicized Capital Hill cash gate scam.

FIU gave a breakdown of cases it has handled and referred to law enforcement agencies between 2009 and now.

In its statement issued on Monday signed by its acting director Atuweni-tupochile Phiri, FIU says: “Between 2009 and now, the FIU has analysed more than 400 reports, 300 of which have been disseminated to law enforcement agencies. Out of the said disseminations, 112 border on fraud in the Public Service involving around 50 companies.

Head of FIU Atuweni-Tupochile Phiri: 400 cases
Head of FIU Atuweni-Tupochile Phiri: 400 cases

“The 112 disseminated reports indicate that an amount around K20 billion is involved, but this can only be confirmed after analysis and investigations have been finalised. With regard to the recent alleged fraud scam that has taken place at the Capital Hill, there is still insufficient information for an exact amount of money involved or otherwise to be established since investigations are still going on. Such a figure will be made available to the public by the appropriate authorities at the right time.”

Phiri said the FIU will continue to carry out its mandate as an autonomous central national agency with the power to receive
disclosures of suspicious financial information from financial institution, analyze and disseminate the information as intelligence reports to Law Enforcement Agencies and Supervisors of financial institutions, while maintaining confidentiality as required by Section 17 (3).

The agency appeared before the Public Accounts Committee of Parliament on Wednesday, 16th October 2013.

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