Economics Analyst Munyumba Mutwale has urged Government to develop a multi-stakeholder approach to curb illicit financial flows in the country as well as investigate and combat trade based money laundering.
Mr. Mutwale tells Flava News that creating a technical working group for illicit financial flows is a good starting point and this must be institutionalised for greater impact.
He adds that Government should consider incorporating a multi-stakeholder approach that includes one or more of Zambia’s top trading countries as a partner for the establishment of trade based money laundering.
Mr. Mutwale is of the view that once government nails down the entry point of illicit financial flows and how they operate, it will be much easier to seal the off more effectively.
He points out that another way of curbing illicit flow of cash is to register all economic activities, noting that many informal economic activities make it is easy for cash to flow without being tracked.
Mr. Mutwale has further advised government to begin looking at how much of the business sector should be formalised.
