Money Laundering

The Authority exists to supervise financial institutions and financial services and
to advice the Minister of Finance on matters relating to financial institutional and
financial services in terms of the Namibian Financial institution Supervisory Authority
Act No. 3 of 2001.
NAMFISA is the designated Anti Money Laundering (AML) / Combatting the
Financing of Terrorism (CFT) Supervisory body for accountable and reporting
Institutions under its jurisdiction in terms of section 35 of the Financial Intelligence
Act No. 13 of 2012 (herein referred to as the “FIA”) read with the Namibia Financial
Institutions Supervisory Authority Act, 2001 (Act No. 3 of 2001).
In terms of section 35 of FIA, NAMFISA’s role is to supervise, monitor and enforce
compliance with the FIA, regulations, orders, circulars, notices, determinations and
directives issued in terms of the FIA.
NAMFISA exercises jurisdiction only over accountable and reporting institutions
specified in Schedule 1 and 2 of the FIA.
Why should we fight money laundering?
Firstly, crime has a negative impact on society and on the economy. Crimes like drug
trafficking, human trafficking and organized prostitution erode the very fabric of
society. When criminals are in charge of a country’s economy, the economy becomes
highly cash based and the inflation rate very high.
Secondly, countries that do not combat money laundering are regarded as posing a risk
to the international financial system, which leads to such countries losing investors and
other countries being reluctant to trade with them.
NAMFISA Complaints Department: (061) 290 5000 (main) or 290 5133 (Ms Marina
K. Ishidhimbwa) or 290 5207 (Ms Hilka Alberto), Fax: (061) 290 5122; for online
complaints email; visit or visit us
on the: 6th Floor, Alexander Forbes House, 154 Independence Avenue, Windhoek.
* NAMFISA treats all information obtained from the public
with confidentiality.
Issued by:
Phillip N. Shiimi