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News

Empowering Asset Management: Zambia’s Visionary Approach.

Asset recovery serves as a powerful tool in combating illicit financial activities by sending a clear message that crime crime does not pay and that perpetrators will face consequences for their actions. It is widely recognised that transparent and accountable management of criminal assets is crucial to the asset recovery process. Effective management of these assets requires specialised skills and a need for decision-making independence among those overseeing them. In light of these considerations, it is suggested that pairing asset recovery and asset management functions within a single institution would be more logical, efficient, and effective. Zambia is contemplating adopting a multi-agency approach to target the forfeiture of proceeds from criminal activities. To achieve this, legislation is proposed to establish a collaborative inter-agency institution empowered to exercise existing statutory functions vested in various agencies. The envisioned institution would integrate the

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