by KEMMAN | Dec 3, 2020 | Uncategorized
The Banking and Financial Services (Amendment) Act No. 7 of 2020 was assented on 23 October 2020. The Zambian Act amends the Banking and Financial Services Act in relation to among others;• licensing for banking businesses, financial businesses or financial services;•...
by KEMMAN | Nov 28, 2020 | Connivance, Fraud, money laundering, Terrorism, Terrorism Financing
Italy has the Mafias. China has the Triads. Zambia has the Jerabos. Japan has the Yakuza. Yakuza, also known as gokudō, are members of transnational organized crime syndicates originating in Japan. The Japanese police, and media by request of the police, call them...
by KEMMAN | Nov 28, 2020 | Motivation
Just like KNOWING who and how are important, knowing “WHY” is also very cardinal. There is an old Zambian song which goes like ” Kusiyana siyana kwa Nchito”. Another one by Air power band which stated “It is the way we get by”. Both songs allude to the facts of life...
by KEMMAN | Nov 26, 2020 | Financial Crime, Fraud, money laundering
The perpetrator was Carson Yeung, Hong Kong hairdresser turned businessman who made his fortune trading in penny stocks/shares, eventually becoming the president of English football club Birmingham city football club in 2009. After years of high living the charges...
by KEMMAN | Nov 26, 2020 | Compliance, Financial Crime, governance, money laundering, Scam, Underground banking
The Perpetrator was Ruan Zhizhong who operated in China and Vietnam. In August 2009 Chinese law-enforcement raided an underground bank and money laundering gang that had sent an estimated USD1.46 billion abroad in illegal transfers. Chinese media reported that,...
