Botswana's Financial Intelligence Agency flags P481 million in suspicious transactions
via Mmegi1 min read
Botswana's Financial Intelligence Agency FIA identified suspicious transactions totaling P481 million in the 2024/25 financial year. These transactions are linked to various financial crimes, including fraud, corruption, tax offenses, drug-related offenses, and illegal deposit-taking. The FIA received and analyzed 850 suspicious transaction reports. The agency also disseminated 102 financial intelligence reports to competent authorities such as the Botswana Police Service, the Directorate on Corruption and Economic Crime DCEC, and the Botswana Unified Revenue Service BURS for further investigation.
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Must ReadA legal dispute is unfolding in the Gaborone High Court as Alithea Investment Pty Ltd, a Botswana-registered company with Mauritian origins, accuses First National Bank Botswana FNBB of failing to account for EUR500 million. This amount, approximately P7.8 billion, was allegedly transferred through the international SWIFT payment system. Alithea Investments claims the funds were remitted via Deutsche Bank AG Frankfurt as part of an investment initiative related to Botswana's Economic Transformation Programme BETP, following discussions with the Minister of International Relations, Dr Phenyo Butale. The investor is seeking court intervention, regulatory scrutiny, and international assistance to trace the funds, placing Botswana's banking sector in an unprecedented situation.
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