More articles in this category
Top Stories

After a massive tax fraud case running into amounts of N$210.6 million spilt into the Windhoek High Court lining 17 people’s heads on the ch...

A resident of Onayena fell and died while drinking Ombike (traditional liquor) on Saturday, the Police reported last week. The man who has been...

At a time when unemployment continues to rock the economy with many graduates are in limbo, the Public Service Commission has reported that a scar...

A lawyer, Hipura Ujaha, representing a woman, Rachel Rittmann, accused of plotting the murder of her husband together with an alleged lover, faile...

As the nation come to terms and mourns the death of struggle icon, Dr. Theo-Ben Gurirab, the Vice President, Nangolo Mbumba has described him as m...

Other Articles from The Villager

FIA compliance deadline looms

Wed, 7 August 2013 20:16
by Online Reporter
News Flash

Bank of Namibia (BoN) has extended the deadline to become Financial Intelligence Act (FIA) compliant to October 5th to allow more clients to provide the required information and documents.   

As such, Bank Windhoek's chief compliance officer, Almarie Bartsch, reminds alltheir clients that; “Should the banks not be in possession of the required documentation by the set deadline, they will have to suspend such accounts until they receive the required information.”

The FIA, which was gazzeted by the Namibia government in 2009, is aimed at combating money laundering in Namibia. Money laundering is the act of disguising or concealing the proceeds of criminal business activities. The 2009 Act was, however, repealed and replaced by the Financial Intelligence Act; Act 13 of 2012.

Bank Windhoek ran an information campaign in this regard [since 2009] using various communication channels, such as client statements, client newsletters, the Bank Windhoek website, the Money Matters newspaper column and booklets. These media tools would be handed out to clients at all the bank's 53 branches and agencies countrywide.

A Financial Intelligence Act Compliance Reference Guide booklet is currently available in all Bank Windhoek branches nationwide, as well as on the bank's website (

For more information on the Act, contact the Financial Intelligence Centre at BoN on (061) 283 5100.