KNOW YOUR RIGHT

PUBLIC NOTICE

What is Money Laundering?

The Authority exists to supervise financial institutions and financial services and to

advice the Minister of Finance on matters relating to financial institutional and financial
services in terms of the Namibian Financial institution Supervisory Authority Act No.
3 of 2001.

NAMFISA is the designated Anti Money Laundering (AML) / Combatting the

Financing of Terrorism (CFT) Supervisory body for accountable and reporting

Institutions under its jurisdiction in terms of section 35 of the Financial Intelligence

Act No. 13 of 2012 (herein referred to as the FIA) read with the Namibia Financial
Institutions Supervisory Authority Act, 2001 (Act No. 3 of 2001).

In terms of section 35 of FIA, NAMFISAs role is to supervise, monitor and enforce

compliance with the FIA, regulations, orders, circulars, notices, determinations and
directives issued in terms of the FIA.

NAMFISA exercises jurisdiction only over accountable and reporting institutions

specified in Schedule 1 and 2 of the FIA.

What is money laundering?

Money laundering is the process whereby criminals take the money they make from
their criminal activities and perform one or more transactions with it so that in the end
the criminal origins of that money is concealed.
One way criminals launder money is by using the money earned from illegal activities
to buy things like cars, property, shares or other legitimate business activities like liquor
stores. The criminals then sell those items to get the money back or buy and sell things
many times. This makes it hard for the police to find out where they got the money.
NAMFISA Complaints Department: (061) 290 5000 (main) or 290 5133 (Ms Marina
K. Ishidhimbwa) or 290 5207 (Ms Hilka Alberto), Fax: (061) 290 5122; for online

complaints email complaints@namfisa.com.na; visit www.namfisa.com.na or visit us

on the: 6th Floor, Alexander Forbes House, 154 Independence Avenue, Windhoek.

* NAMFISA treats all information obtained from the public

with confidentiality.
Issued by:

Phillip N. Shiimi

CHIEF EXECUTIVE OFFICER

Call: +264 61 290 5000 | E-mail: info@namfisa.com.na | PO Box 21250, Windhoek

6th Floor, Alexander Forbes House, 154 Independence Avenue, Windhoek