Windhoek: The Financial Intelligence Centre (FIC) officially launched its 2024/25 Annual Report in Windhoek, marking a significant development in its operational history. The event was presided over by FIC board chairperson Charmaine van der Westhuizen, Bank of Namibia Governor Johannes !Gawaxab, and FIC director Bryan Eiseb.

According to Namibia Press Agency, this financial year is historic as it represents the first instance where the FIC has crafted and rolled out its independent corporate strategy. Van Der Westhuizen emphasized the importance of this milestone for the institution.

Director Bryan Eiseb highlighted the FIC's efforts in combating financial crime, including money laundering, terrorism financing, proliferation financing, and other illicit financial activities. Eiseb articulated the FIC's goal to effectively address these threats by fostering strategic partnerships.

The FIC reported that during the 2024/25 financial year, it generated 565 intelligence reports, facilitated 148 criminal investigations, provisionally restricted N.dollars 96.9 million, preserved N.dollars 79.9 million, and successfully forfeited N.dollars 5 million through the High Court.

The annual report showcases substantial growth in compliance and capacity-building activities, with a 98 percent rise in onsite compliance assessments, 729 percent surge in offsite FIA compliance assessments, and a 297 percent increase in training, awareness, and outreach initiatives.

The report underscores the FIC's enhanced effectiveness and its pivotal role in fortifying Namibia's financial integrity framework. As the centre's flagship publication, the annual report functions as a crucial accountability tool, outlining the strategic and operational initiatives executed in accordance with the FIC's mandate. The report is published in compliance with Section 12(d) of the Financial Intelligence Act, 2012 (No. 13 of 2012), as amended.