Namibian banks are stepping up efforts to combat financial crime as the country strengthens its anti-money laundering and fraud prevention systems. The latest figures from the Financial Intelligence Centre show that closer cooperation between banks, regulators and law enforcement is producing tangible results.
The Namibia Revenue Agency (NamRA) has revealed that it has detected 316 cases of fraudulent claims or forged documents over the past four years, worth a combined N$1 billion.
Namibia has recorded an improved score in the 2025 Basel Anti-Money Laundering Index, placing the country among the five best-performing nations in Africa when it comes to managing risks linked to money laundering and financial crime.
The European Commission has added Namibia to the EU's Updated List of High-Risk Jurisdictions for Financial Crime Monitoring.
The Namibian Revenue Agency (NamRA) has uncovered a fraudulent scheme linked to the Mass Tax Refund Initiative currently being implemented.
