Luanda: The Financial Intelligence Units of Namibia and Angola have formalised a new chapter in their bilateral cooperation aimed at combating money laundering, terrorism, and proliferation financing. A media release issued by the Financial Intelligence Centre of Namibia on Tuesday said the agreement was concluded on the sidelines of the third meeting of the Southern African Development Community (SADC) Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Committee, held in Luanda, Angola, last week.
According to Namibia Press Agency, the two institutions signed a Memorandum of Understanding (MoU), which outlines collaborative measures to address financial crimes across borders and enhance investigative capabilities. It includes provisions for joint training initiatives, technical assistance, and the exchange of strategic and operational information to support investigations.
‘Under the MOU, the two sister institutions will now be able to leverage the expertise gained in efforts to curb money laundering and illicit financial flows as well as the recovery of proceeds of money laundering in the two countries,’ read the statement.
This agreement is seen as a major step towards combating financial crimes and upholding the integrity of financial systems.