Zambians used as fronts of foreign entities – FIC
Published On March 22, 2024 » 768 Views» By Times Reporter » Latest News
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THE Financial Intelligence Centre (FIC) has disclosed that there is an increase in the trend of Zambians being used by foreigners as fronts of companies that are primarily incorporated to perpetuate financial crimes.
The financial crimes range from tax evasion to corruption and the criminals avoid detection through masking Beneficial Ownership (BO) of the companies and legal arrangements.
This came to light in Lusaka yesterday during the FIC study on the availability and access to BO information for law enforcement investigations in Zambia.
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