Financial crimes pose a significant threat, not only undermining a country's financial systems and economy but also paving the way for other serious criminal activities, including terrorism financing, drug trafficking, and corruption.
In light of these concerns, speakers at the opening of the Judicial Workshop on Anti-Money Laundering and Asset Recovery in Windhoek yesterday emphasized the need for a robust and informed judicial response. They highlighted that the increasing sophistication and prevalence of these crimes require a vigilant and proactive approach from the judiciary.
Countries' find themselves in a global order where economic crimes are becoming more sophisticated with the advancement of new payment channels and methods, especially in the virtual assets space.
The Director of the Financial Intelligence Centre says this has made the investigation, prosecution, and judicial adjudication of facts associated with these crimes more complicated.
On her part, the UN Resident Coordinator added that money laundering and the proceeds of crime, if left unchecked, undermine countries' efforts to achieve the UN Social Development Goals.
Therefore, Hopolang Phororo says, the UN Country Team has jointly supported Namibia to strengthen the data management and identification of illicit financial flows, the formulation and consultation of the access to information bill, as well as promoting citizen participation as a toll for transparency and fighting corruption.
"In this way, it is our hope that this workshop will aid in strengthening and emboldening you, distinguished members of the Namibian Judiciary, to successfully secure more money laundering convictions, where warranted, and increase the seizure and forfeiture of illicit assets, in line with international best practices and Namibian law. Soundbite shorthened."
The Chief Justice Peter Shivute, in his speech read on his behalf, says judicial officers are on the front lines in the fight against money laundering and other financial crimes, hence the training to ensure that they are equipped to effectively uphold justice.
"The international dimension of these activities necessitates a coordinated and well-informed approach from the judiciary, ensuring that our legal systems can effectively combat these threats, no matter where they originate. As members of the judiciary, we are tasked with not only adjudicating AML cases but also setting precedents and building a robust legal framework that deters future crimes."
The five-day training workshop, held under the Asset Recovery Interagency Network for Southern Africa with the support of the UN Office on Drugs and Crimes, brings together judges and magistrates to discuss critical issues around anti-money laundering efforts and asset recovery within Namibia and internationally.