K2.2 billion lost to corruption in 2020 – FIC

THE Financial Intelligence Center (FIC) has reported that in 2020, the country lost about K3.1 billion through corruption, tax evasion, fraud, illegal mining and other vices, with corruption alone accounting for over K2.2 billion. The centre has also reported that during the year 2020, there was an increase in the use of cloned cards from criminal elements, whereby debit card details, stolen from unsuspecting members of the public, would be sold on the internet. According to the FIC annual report for the year ended 31st December 2020, obtained from the website, the prominent predicate offences observed in the intelligence reports disseminated were tax evasion and corruption. The report indicated that the value of disseminated intelligence reports in 2020 increased to…...