Money laundering and terrorism financing risks in Botswana

This paper is a contribution to the debate on the risks of money laundering and the financing of terrorism in Botswana.

This paper is a contribution to the debate on the risks of money laundering and the financing of terrorism in Botswana. It provides an overview of Botswana’s Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regimes. An analytical framework woven around the ‘three pillars’ of prevention, enforcement and international co-operation is used in this discussion. As a benchmark for the discussion, the paper outlines the international regulatory regimes for curbing both money laundering and the financing of terrorism. The paper is premised on the assumption that both money laundering and the financing of terrorism have similar characteristics and can thus be analysed within the same framework. A number of risks are highlighted within the prevailing economic and political context in Botswana. While recognising an increasingly improving AML/CFT legal framework, it is noted that in the absence of a risk-based approach to these issues, the realisation of international standards will remain a challenge.

About the author

Jackson Madzima is a researcher in the Organised Crime and Money Laundering Programme in the Cape Town office of the ISS. While working for the Botswana Police Service he was seconded to the Interpol Sub Regional Bureau in Harare, Zimbabwe as an Interpol Regional Specialised Officer. He has worked in the area of organised crime in general, and economic, financial and high-tech crimes in particular, for seven years. Jackson studied economics and sociology at the University of Botswana and holds a Masters of Business Administration from the Nottingham Business School.