Criminal activities are common everywhere, more so in developing nations. Lack of any strict law and order or government policies gives opportunities for these culprits to engage in illicit activities. Zambia is a developing country and has been facing corruption and criminal activities at every level. However, the recent scandalous revelation has left everyone thinking whether the government is functional at all. FIC (Financial Intelligence Centre) recently reported that Zambia is facing one of the biggest money laundering activities of the last few decades. With involvement of top lawyers, legal counsellors and the amount being way beyond USD 1.5 billion, it can be said that this money laundering scheme will go down as one of the worst corruption acts in the nation.
The acting board director of FIC, John Kasanga, revealed interesting facts during one of his interview post the announcement of this money laundering act. The amount close of USD 1 billion was suspiciously and illegally deposited across various company accounts, most of them being law firms and owned by top lawyers and political personalities. At the same time, the amount of money deposited across personal banks was almost USD 72 million. Thus, the activity of this criminal enterprise is much deeper than previously anticipated. For companies as well as established businesses, the FIC noted large cash withdraws. As per the reports, more than 8000 such large transactions were found across the personal and corporate bank accounts of these lawyers. Some of these lawyers include Masozi, M. Banda, the lawyer from Avik International and Sakwiba Sikota. Banda is a noted lawyer and is charged with cash transactions worth more than USD 1 billion. Sakwiba Sikota owns Central Chambers, a law firm which has been named in the list of top money launderers. He is also negatively known for his famous association for the Ventriglias, the family which illegally took over Portland Cement Zambia, a factory which actually belonged to noted businessman and philanthropist Dr. Rajan Mahtani.