Police Welcomes Passing Of Anti-Money Laundering Bill

The passing of the anti-money laundering bill has caused excitement among investigators who until recently had their hands tied when pursuing people trying to wash “dirty money” in Uganda.

Speaking to the media, investigators said they cannot wait to start putting the law to use.

The Parliament of Uganda on Wednesday passed the anti-money laundering bill and now have to wait for the 30 days to have President Yoweri Museveni accent to the bill to become law.

An officer who did not wish to be disclosed said they had trained an unspecified number of police detectives way back as 2006 in USA and Botswana to start fighting anti-money laundering crimes.

One of the officers says cases of money laundering are easy to investigate that one only needs either a water bill or phone bill to prove ownership of a particular property.

The officers agree that a lot of dirty money is being cleaned through the construction industry with people building houses for rent on all the seven hills of Kampala.

However, some officers were disappointed that parliamentarians are taking their time to pass the anti-narcotics law which is closely associated with the anti-money laundering law.

The biggest amount of money comes from drug trafficking but there are other areas like construction, casinos, financial frauds, cyber crime that all need monitoring.

The new law calls for the creation of the Financial Investigations Unit – FIU.

One officer described the new bill as a major milestone in the fight against terrorism. Terrorists have been using drug trafficking especially cocaine to fund their activities.

Cocaine comes from Brazil and Peshwar in Pakistan en-route to Japan, Europe or USA.

Police has been handling cases related to money laundering through the economic crime desk and people have been charged for obtaining money by false pretence or theft.

Police now believe that the new law will help police access properties of criminals. A number of cars are usually seen parked at police station rotting away and many of which were proceeds of crime.

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