• DEC seized two motor vehicles, two flats in Lusaka’s Chalala area, a house in Chongwe, and K150, 217 in cash.
• Two Kwacha bank accounts with a balance of over K167, 000 and one US dollar account with a sum of US$ 655.10 have been frozen.
• The suspect is on bond and is expected to appear in court soon.

Drug Enforcement Commission (DEC) has arrested and charged a banker at named commercial bank for fraud and money laundering involving over K16.8 million.
DEC Public Relations Officer, Hussein Khan, revealed in a statement that during the course of investigations, the Commission seized properties belonging to the suspect identified as Kondwani Mhango 35, which include two motor vehicles, two flats in Lusaka’s Chalala area, a house in Chongwe, and K150, 217 in cash, while two Kwacha bank accounts with a balance of over K167, 000 and one United States Dollar account with a sum of US$ 655.10 have been frozen.
Mr. Khan explained that the suspect, while employed as a banker at a known commercial bank jointly and whilst acting together with other unknown people between 1st May 2020 and 30th November 2022, fraudulently gained access to the bank’s suspense account and stole funds amounting to K16,805,281.
“The suspect is believed to have issued instructions to the bank’s cash management operations and the cash in transit (CIT) vendor, to deliver cash to non-client beneficiaries who were later handing over the money to him after receiving it. Further, during the same period, the suspect is believed to have engaged in money laundering by concealing the true source of the stolen funds.”
“Mhango has since been charged with: Unauthorized Access to Data contrary to section 49 of the Cybersecurity and Cybercrimes Act No. 2 of 2021 of the laws of Zambia, Theft by Servant contrary to section 278 of the Penal Code CAP 87 of the Laws of Zambia and Money Laundering contrary to section 7 of the Prohibition and Prevention of the Money Laundering Act No.14 of 2001 as amended by Act No. 44 of 2010,” Mr. Khan said.
He added that the suspect is on bond and is expected to appear in court soon.