adminIvan Zhakata
Herald Correspondent
Zimbabwe’s casino and gaming industry is making significant progress in implementing anti-money laundering standards, Financial Intelligence Unit director-general Mr Oliver Chiperesa said recently.
This follows the successful move by Zimbabwe out of the Financial Awareness Taskforce list of countries that were not sufficiently compliant with anti-money laundering standards.
Speaking at an anti-money laundering training for operators in the casino and gaming industry in Harare, Mr Chiperesa said the FIU was pleased with the progress the country has made in implementing anti-money laundering requirements.
“We are making good progress in anti-money laundering and I am pleased because a few years ago there was rarely an understanding of anti-money laundering,” he said.
“It was more in the financial and banking sector and these other designated professions were not up there in terms of awareness. I am pleased that over the years, with the work that we do and the collaboration that we do with the regulator of the sector, the Lotteries and Gaming Board, we are beginning to notice some big improvements in terms of understanding and implementation of the requirements.
“We will be assessed again in 2026 and what we are trying to do is to make sure that we are proactively ready for that assessment so that when the assessors come we can be able to demonstrate that our institutions in the country understand anti-money laundering and they are implementing.”
Mr Chiperesa said Zimbabwe subscribed to international instruments on anti-money laundering which include the Financial Action Taskforce standards on anti-money laundering which require institutions in the country to implement anti-money laundering standards to prevent criminals from cleaning illicitly acquired funds through the financial system.
“We are having the casino and gaming sector which is one of the seven categories of businesses and professions that include lawyers, casinos, estate agents, car dealers, trust and corporate service providers. We are here to raise awareness to these entities in the gaming sector to make sure that they are well aware of these requirements,” he said.
Interim secretary for Lotteries and Gaming Board Dr Misheck Chingozha said there was need for lotteries and gaming entities to be sufficiently grounded in ethical behaviour so as to grow and sustain the industry and institutions.
“This is, therefore, part of that exercise that will help to show these assessors the commitment to eliminate or reduce incidences of money laundering,” he said.
“The more something is done the more it sinks into the nerve and bone of those concerned. The more we have such interventions, the more likely it is to understand the subject, its challenges and implications on the greater economy.
“We need to be sufficiently grounded in ethical behaviour so as to grow and sustain our industry and institutions. You are thus remembered for what you did, what we did. It is indeed about you and me to rewrite our narrative for this country regarding anti-money laundering.”
Online Reporter