The Centre for Trade Policy and Development (CTPD) says there is need for strong political will if Zambia is to address the growing problem of Corruption, Tax Evasion and Fraud.
In a statement issued to money FM News CTPD Executive Director Isaac Mwaipopo tells Money FM News that in the absence of political will, findings from the Financial Intelligence Centre and the auditor General’s Report will remain as mere academic exercise gobbling tax payers money with no follow up actions.
Mr Mwaipopo said CTPD remains deeply concerned with the growing trend of illicit financial flows and blatant suspected corruption in the public service as revealed in the latest Financial Trends Report by the Financial Intelligence Centre released on Friday 31st May 2019.
He said from the revelations by the report is a clear indication that levels of corruption in the country are going up instead of reducing so are the cases of tax evasion and money laundering and other financial crimes.
The latest FIC report just revealed that suspicious transactions reported this year have increased to K6.1 Billion from 4.5 Billion reported in 2018.
Mr Mwaipopo adds that the economic implications of these illicit financial crimes is so damaging to countries, it results in many devastating outcomes such tax revenue losses, deprivation of citizen’s access to a decent life as well as underdevelopment.
“What is even more disappointing is the fact that in the two consecutive reports, it is the Politically Exposed Persons (PEPS) that have been cited as the main culprits in these financial related crimes using conduits such as law and audit firm”, He said.
“These are the people that Zambians have trusted with positions of authority to promote and protect public interest but alas they are now stealing from the people they are supposed to protect. This is a betrayal of the people’s trust which should be,”.