Non-governmental organisation (NGO) Board Chief Executive Officer Voice Mhone, local NGOs are prone to money laundering and terrorism financing.

In resolve, the board has called for the need to raise more awareness on the problem. Mhone outlined that the NGO sector in Malawi mobilises a lot of money from foreign sources, running the risk of receiving money from sources that are rated risky. “When it comes to money laundering and financing terrorism, we don’t have the capacity to monitor and that’s why [our] report has clearly highlighted recommendations on our weaknesses.” said Mhone.

The above was announced during a breakfast meeting organised to share key findings and recommendations on the mutual evaluation exercise conducted by the board. Last year, During a two-day workshop on trade-based money laundering organised by Financial Intelligence Agency (FIA) in collaboration with Attorney General Alliance-Africa Alliance Partnership (AGA-AAP), the Malawi Revenue Authority (MRA) says trade-based money laundering has cost the economy $9 million (about K6.6 billion) between 2017 and 2018.

FIA director general Atuweni Juwayeyi- Adermodji said Trade-based money laundering in Malawi is rampant, costing the economy serious sums of money. “