1.   Short title

   2.   Interpretation

Establishment of Financial Intelligence Agency

   3.   Establishment of Agency

   4.   Functions of Agency

   5.   Security screening of Director, etc.

National Coordinating Committee on Financial Intelligence

   6.   Establishment of National Coordinating Committee on Financial Intelligence

   7.   Functions of Committee

   8.   Meetings of Committee

Duty to Identify Customers and Keep Records

   9.   Obligations of specified party

   10.   Identification of customers

   11.   Keeping of records

   12.   Period records to be kept

   13.   Records kept by third party

   14.   Admissibility of electronic records

   15.   Offences relating to records

   16.   Access to records of specified party

Reporting Obligation and Cash Transactions

   17.   Specified party reporting

   18.   Cash transactions above prescribed limit

   19.   General reporting

   20.   Conveyance of cash

   21.   Electronic transfer of money into or out of Botswana

   22.   Content of report

   23.   Continuation of transaction

   24.   Interruption of transaction by Agency

   25.   Offences relating to reporting

   26.   Indemnity of person making report

Referral, Supervision and Exchange of Information

   27.   Obligations of supervisory authorities

   28.   Receipt of information by Agency

   29.   Referral of information by Agency

   30.   Referral of information by supervisory authority

   31.   Membership of international financial organisation

   32.   Certificate issued by Agency

   33.   Information held by Agency

General Provisions

   34.   Confidentiality by Director, etc.

   35.   Declaration of assets by Director, etc.

   36.   Indemnity of Director, etc.

   37.   Exempt transactions

   38.   Amendment of Schedule

   39.   Transitional provisions

   40.   Regulations

      Schedule I

      Schedule II

Act 6, 2009,
S.I. 13, 2010,
S.I. 68, 2013.

An Act to provide for the establishment of the Financial Intelligence Agency; to establish a National Coordinating Committee on Financial Intelligence; to provide for the reporting of suspicious transactions and other cash transactions; to provide for mutual assistance with comparable bodies outside Botswana in relation to financial information and for matters connected therewith and incidental thereto.

[Date of commencement: Sections 1-8, 34-36 and 40: 1st March, 2010;
Sections 9-33 and 37-39: 21st June, 2013.

Preliminary (ss 1-2)

1.   Short title

   This Act may be cited as the Financial Intelligence Act.

2.   Interpretation

   In this Act unless the context otherwise requires-

   "Agency" means the Financial Intelligence Agency established under section 3;

   "Committee" means the National Coordinating Committee on Financial Intelligence established under section 6;

   "comparable body" means an institution or government agency outside Botswana with functions similar to those of the Agency;

   "Director" means the Director of the Agency;

   "Directorate" means the Directorate of Intelligence and Security established under the Intelligence and Security Service Act;

   "Egmont Group" means an informal body of governments that share the common goal of providing a forum to enhance mutual cooperation and share financial information in order to detect financial offences;

   "financial offence" means money laundering, financing of terrorism or the acquisition of property from the proceeds of any other offence ';

   "investigatory authority" means an authority empowered by an Act of Parliament to investigate or prosecute unlawful activities;

   "money laundering" has the same meaning assigned to it under the Proceeds of Serious Crime Act;

   "property" means money or any other movable, immovable, corporeal, or unincorporeal thing and includes any rights, securities and any interest in privileges and claims over the property including-

   (a)   any currency, whether or not the currency is legal tender of Botswana, and any bill, security, bond, negotiable instrument or any instrument capable of being negotiated which is payable to bearer or endorsed payable to bearer, whether expressed in Botswana currency or otherwise,

   (b)   any balance held in Botswana currency or in any other currency in accounts with any bank which carries on business in Botswana,

   (c)   any balance held in any currency with a bank outside Botswana,

   (d)   motor vehicle, ship, aircraft, boat, works of art, jewellery, precious metal or any other item of value,

   (e)   any right or interest in property,

   (f)   funds or other assets and any interest, dividends or income on or value accruing or generated by such funds or assets, and

   (g)   stored value devices;

   "specified party" means a person listed in Schedule I to this Act;

   "supervisory authority" means a person listed in Schedule II to this Act except that the Agency shall act as a supervisory authority for a specified party that does not have a supervisory authority;

   "suspicious transaction" means a transaction which-

   (a)   gives rise to a reasonable suspicion that it may involve financial offence,

   (b)   gives rise to a reasonable suspicion that it may involve property connected to, or to be used to finance terrorism, whether or not the property represent the proceeds of an offence,

   (c)   is made in circumstances of unusual or unjustified complexity,

   (d)   appears to have no economic justification or lawful objective,

   (e)   is made by or on behalf of a person whose identity has not been established to the satisfaction of the person with whom the transaction is made, or

   (f)   gives rise to suspicion for any other reason;

   "transaction" includes-

   (a)   opening an account, issuing a passbook, renting a safe deposit box, entering into a fiduciary relationship or establishing any other business relationship, and

   (b)   a proposed transaction.

Establishment of Financial Intelligence Agency (ss 3-5)

3.   Establishment of Agency

   (1) There is hereby established an Agency, to be called the Financial Intelligence Agency which shall consist of a Director and such other officers of the Agency, as may be necessary for the proper performance of the functions of the Agency.

   (2) The Minister may appoint a Director and subject to section 5, no person shall be appointed Director unless he or she possesses such qualifications as the Committee may determine.

   (3) The Agency shall be a public office and accordingly, the provisions of the Public Service Act shall with such modifications as may be necessary, apply to the Director and to officers of the Agency.

   (4) Subject to the provisions of this Act, the Agency shall not, in the performance of its functions, be subject to the direction or control of any other person or authority.

4.   Functions of Agency

   (1) The Agency shall be the central unit responsible for requesting, receiving, analysing and disseminating to an investigatory authority, supervisory authority or comparable body, disclosures of financial information-

   (a)   concerning suspicious transactions;

   (b)   required by or under any enactment in order to counter financial offences;or

   (c)   concerning the financing of any activities or transactions related to terrorism.

   (2) For the purposes of subsection (1), the Agency shall-

   (a)   collect, process, analyse and interpret all information disclosed to it and obtained by it under this Act;

   (b)   inform, advise and collaborate with an investigatory authority or supervisory authority in accordance with this Act;

   (c)   forward financial intelligence reports to an investigatory authority;

   (d)   conduct examinations of a specified party to ensure compliance with this Act by the specified party;

   (e)   give guidance to a specified party regarding the performance by the specified party of duties under this Act;

   (f)   provide feedback to a specified party regarding a report made in accordance with this Act;and

   (g)   exchange information with a comparable body.

   (3) In furtherance of the functions of the Agency, the Director may consult with and seek such guidance from law enforcement officers, government agencies and such other persons as the Agency considers desirable.

5.   Security screening of Director, etc.

   (1) No person shall be appointed as Director or officer of of the Agency unless-

   (a)   a security screening investigation with respect to that person has been conducted by the Directorate;and

   (b)   the Directorate is satisfied that the person may be so appointed without the possibility of such a person posing a security risk or acting in a manner prejudicial to the objectives or functions of the Agency.

   (2) The Directorate shall, where it is satisfied that a person meets the requirements set out in subsection (1), issue a certificate with respect to the person in which it is certified that such a person has passed a security clearance.

   (3) The Director or officer of the Agency may at any time determined by the Minister, be subjected to a further security screening investigation in accordance with subsection (1).

   (4) The Directorate shall withdraw a certificate issued under subsection (2) where an investigation under subsection (3) reveals that the Director or officer is a security risk or has acted in a manner prejudicial to the objectives or functions

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