CARMEL RICKARD: Double jeopardy
A Namibian court has found in a former bank employee’s favour after she faced two disciplinary actions — and two sanctions — for one infringement
Namibia’s Financial Intelligence Centre (FIC) takes a dim view of banks that disobey its intervention orders, something that became clear through a Supreme Court decision last week.
When First National Bank (FNB) Namibia allowed a withdrawal from an account against the instructions of the FIC, a hefty fine followed. It’s a situation FNB had not previously confirmed, but with a case at the Supreme Court testing whether its dismissal of the employee responsible for the payout was lawful, details of the fine became part of the record...