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...

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