The Financial Intelligence Authority (FIA) says it is investigating six commercial banks in Malawi over financial crimes.
FIA’s compliance and public relations manager Masautso Ebere has confirmed.
Speaking to the local media, Ebere said FIA is investigating six commercial banks and one mobile money operator over financial crimes.
He added that the authority hopes to complete the investigation in the next two weeks.
The probe comes weeks after fiscal police in LIlongwe arrested five women who were found with 338 ATM cards at Kamuzu International Airport on arrival from Dubai.
It is suspected that the cards were used to commit forex externalisation and money laundering offences.
Bankers Association of Malawi (Bam) Chief Executive Officer, Lynes Nkungula, told the local media earlier this month that banks are not involved in suspicious transactions.
“Maybe, some misguided members within the banks can be behind that but not banks as corporate institutions,” she said.
