This is the version of this Act as it was from 15 November 2019 to 14 March 2023. Read the latest available version.

Financial Intelligence Act, 2012
Act 13 of 2012
- Published in Government Gazette 5096 on 14 December 2012
- Assented to on 24 December 2012
- Commenced on 21 December 2012 by Commencement of Financial Intelligence Act, 2012
- [This is the version of this document as it was from 15 November 2019 to 14 March 2023.]
- [Amended by Prevention and Combating of Terrorist and Proliferation Activities Act, 2014 (Act 4 of 2014) on 1 July 2014]
- [Amended by Amendment to Schedule 1 of Financial Intelligence Act (Government Notice 339 of 2019) on 15 November 2019]
Part 1 – Preliminary provisions
1. Definitions
2. Application of Act to accountable and reporting institutions
3. Application of Act to supervisory and regulatory bodies
4. Application of Act to Registrar of Companies and Close Corporations
5. Application of Act to Master of High Court
6. Application of Act when in conflict with other laws
If any conflict relating to the matters dealt with in this Act arises between this Act and any other law, a provision of this Act prevails.Part 2 – Establishment of Financial Intelligence Centre and appointment of director and staff of centre
7. Establishment of Financial Intelligence Centre
8. Objects of Centre
The principal objects of the Centre in terms of this Act are to combat money laundering and the financing of terrorism or proliferation activities in collaboration with the other law enforcement agencies.[section 8 amended by Act 4 of 2014 to add the words “or proliferation”]9. Powers and functions of Centre
10. Administrative powers of Centre
The Centre, with the concurrence of the Governor, may do all that is necessary or expedient to perform its functions effectively, which includes the power to -11. Appointment and removal of Director
12. Responsibilities of Director
13. Staff of Centre
14. Funds of Centre
15. Audit
All the financial matters of the Centre relating to the Centre’s exercising of its powers and performance of its functions in terms of this Act must be kept separate from that of the Bank and must be audited separately.16. Delegation
Part 3 – Anti-Money Laundering and Combating Financing of Terrorism and Proliferation Council
[The heading of PART 3 is amended by Act 4 of 2014 to add the words “and Proliferation” - which have been capitalised here accordingly, although the amending Act did not specify this.]17. Establishment
There is established an Anti-Money Laundering and Combating the Financing of Terrorism and Proliferation Council.[section 17 amended by Act 4 of 2014 to add the words “and Proliferation”]18. Constitution, conditions of office and vacation of office
19. Functions
20. Meetings and procedures
Part 4 – Money laundering and financing of terrorism or proliferation control measures duty to identify clients, conduct ongoing and enhanced due diligence, keep records and report suspicious transaction and suspicious activities
[The heading of Part 4 is amended by Act 4 of 2014 to add the words “or proliferation”][The heading of Part 4 is otherwise reproduced above as it appears in the original Government Gazette. There appears to be a comma missing after the word “MEASURES”, and the word “TRANSACTION” should be plural to be grammatically correct.]21. Identification when business relationship is established or single transaction is concluded
22. Identification when transaction is concluded in the course of business relationship
23. Risk clients
24. On-going and enhanced due diligence
25. Identification and account-opening for cross-border correspondent banking relationships
26. Records to be kept of business relationships and transactions
27. Period for which record must be kept
28. Centralisation of records
29. Records may be kept by third parties
30. Admissibility of records
31. Centre has access to records
32. Cash transactions above prescribed limits
33. Suspicious transactions and suspicious activities
34. Electronic transfers of money to, from and within Namibia
35. Obligations of and reporting by supervisory bodies
36. Declaration of cross border movement of cash and bearer negotiable instruments amounting to or exceeding amount determined by Centre
37. Powers of officers of Customs and Excise in respect of cash or bearer negotiable instruments being conveyed in or out of Namibia
38. Making declarations on cash or bearer negotiable instruments available to Centre
39. Obligations of accountable and reporting institutions
40. Reporting procedures
41. Continuation of suspicious transactions
An accountable or reporting institution that has made a report to the Centre in terms of section 32, 33 or 34 concerning a transaction, may continue with and carry out the transaction unless the Centre directs the accountable or reporting institution in terms of section 42 not to proceed with the transaction.42. Intervention by Centre
43. Monitoring orders
44. Reporting duty not affected by confidentiality rules
45. Protection of persons making reports
46. Tipping off
A person who -47. Admissibility as evidence of reports made to Centre
A certificate issued by an official of the Centre that information specified in the certificate was reported to the Centre in terms of this Part, is, subject to section 45(3) and (4), on its mere production in a court admissible as evidence in a matter before that court.48. Access to information held by Centre
49. Protection of confidential information
50. Protection of informers and information
Part 5 – Compliance and enforcement of Act
51. Exhausting of other measures before penalties
52. Appointment of inspectors
53. Inspections
54. Directives
55. Enforceable undertakings and enforcement
56. Administrative sanctions
57. Appeal board
58. Appeals
59. Referral of suspected offences to competent authorities or Prosecutor-General or other public bodies
Despite sections 54, 55 and 56, if the Centre in the performance of its functions has reasonable grounds to suspect that an accountable or reporting institution, or any other person who is subject to this Act, has contravened or failed to comply with any provision of this Act or any regulation, order, rule, circular, notice, directive, determination, undertaking or guideline applicable to that accountable or reporting institution or person, it may, if it considers it appropriate to do so, refer the matter to a relevant competent authority, together with any recommendation the Centre considers appropriate.60. Application to court
61. Powers of authorised officers
62. Release of property, record, report or document seized
Part 6 – Offences and penalties
63. Offences in general
A person who -64. Jurisdiction of magistrates’ courts in respect of offences
65. Offence committed by person acting in official capacity
Part 7 – Miscellaneous
66. Act not to limit powers of investigation authorities
This Act does not affect a competent authority’s powers in terms of other legislation to obtain information for the purpose of criminal investigations.67. Regulations
68. Indemnity
The Minister, Council, Centre, an employee or representative of the Centre, a supervisory body or any other person performing a function or exercising a power in terms of this Act is not liable for anything done in good faith in terms of this Act.69. Service of notices
Any notice, statement or other document which is required to be prepared, executed or served under this Act must be prepared, executed or served in the prescribed manner.70. Exemptions
71. Documents tracking
72. Repeal of laws
The Financial Intelligence Act, 2007 (Act No. 3 of 2007), and Government Notice No. 235 of 15 December 2011 are repealed.73. Transitional provisions and savings
74. Short title and commencement
History of this document
21 July 2023
15 March 2023
15 November 2019 this version
01 July 2014
24 December 2012
Assented to
21 December 2012
Commenced by
Commencement of Financial Intelligence Act, 2012
14 December 2012
Subsidiary legislation
Title | Numbered title |
---|---|
Financial Intelligence Regulations, 2015 | Government Notice 3 of 2015 |
Cited documents 25
Legislation 25
- Agricultural Bank of Namibia Act 5 of 2003
- Bank of Namibia Act, 1997
- Banking Institutions Act, 1998
- Casinos and Gambling Houses Act, 1994
- Close Corporations Act, 1988
- Companies Act, 2004
- Criminal Procedure Act, 1977
- Customs and Excise Act, 1998
- Development Bank of Namibia Act, 2002
- Estate Agents Act, 1976
- Legal Practitioners Act, 1995
- Long-term Insurance Act, 1998
- Minerals (Prospecting and Mining) Act, 1992
- Namibia Central Intelligence Service Act, 1997
- Namibia Financial Institutions Supervisory Authority Act, 2001
- Namibia Revenue Agency Act, 2017
- National Housing Enterprise Act, 1993
- Payment System Management Act, 2003
- Petroleum (Exploration and Production) Act, 1991
- Prevention and Combating of Terrorist and Proliferation Activities Act, 2014
- Prevention of Organised Crime Act, 2004
- Public Accountants’ and Auditors’ Act, 1951
- Public Service Act, 1995
- Stock Exchanges Control Act, 1985
- Traditional Authorities Act, 2000
Documents citing this one 57
Gazette 38
- Namibia Government Gazette dated 2012-12-14 number 5095
- Namibia Government Gazette dated 2012-12-14 number 5096
- Namibia Government Gazette dated 2012-12-21 number 5104
- Namibia Government Gazette dated 2013-07-26 number 5250
- Namibia Government Gazette dated 2013-12-31 number 5383
- Namibia Government Gazette dated 2014-06-25 number 5490
- Namibia Government Gazette dated 2014-09-16 number 5560
- Namibia Government Gazette dated 2015-01-28 number 5658
- Namibia Government Gazette dated 2015-10-01 number 5845
- Namibia Government Gazette dated 2016-02-29 number 5955
- Namibia Government Gazette dated 2017-03-01 number 6253
- Namibia Government Gazette dated 2018-04-13 number 6568
- Namibia Government Gazette dated 2018-05-15 number 6595
- Namibia Government Gazette dated 2018-06-08 number 6622
- Namibia Government Gazette dated 2018-07-31 number 6664
- Namibia Government Gazette dated 2018-08-31 number 6697
- Namibia Government Gazette dated 2018-10-24 number 6745
- Namibia Government Gazette dated 2018-11-16 number 6768
- Namibia Government Gazette dated 2018-12-13 number 6792
- Namibia Government Gazette dated 2018-12-13 number 6793
- Namibia Government Gazette dated 2019-05-23 number 6912
- Namibia Government Gazette dated 2019-09-12 number 6994
- Namibia Government Gazette dated 2019-11-15 number 7049
- Namibia Government Gazette dated 2019-11-28 number 7064
- Namibia Government Gazette dated 2019-12-18 number 7079
- Namibia Government Gazette dated 2021-02-18 number 7462
- Namibia Government Gazette dated 2021-03-16 number 7484
- Namibia Government Gazette dated 2021-10-01 number 7645
- Namibia Government Gazette dated 2021-12-22 number 7713
- Namibia Government Gazette dated 2022-04-11 number 7784
- Namibia Government Gazette dated 2022-07-28 number 7864
- Namibia Government Gazette dated 2022-10-14 number 7927
- Namibia Government Gazette dated 2022-12-30 number 7995
- Namibia Government Gazette dated 2023-02-07 number 8026
- Namibia Government Gazette dated 2023-07-28 number 8156
- Namibia Government Gazette dated 2023-08-03 number 8164
- Namibia Government Gazette dated 2023-08-31 number 8191
- Namibia Government Gazette dated 2023-08-31 number 8192
Judgment 6
- Atlantic Ocean Management Group (PTY) LTD and Another v The Prosecutor-General (17 of 2017) [2017] NAHCMD 255 (6 September 2017)
- Beukes v First Rand Namibia and Others (HC-MD-LAB-APP-AAA-2022/00067) [2023] NALCMD 37 (24 August 2023)
- First National Bank of Namibia Limited v Nghishidivali (SA 34 of 2019) [2021] NASC 50 (3 December 2021)
- Olenga v Sprangers (3826 of 2011) [2019] NAHCMD 192 (17 June 2019)
- Prosecutor-General v Atlantic Ocean Managment Proprietary Limited and Another. (Appeal Judgment) (SA 53 of 2017) [2019] NASC 594 (9 October 2019)
- St. Clair-Bolam N.O v First National Bank Ltd (HC-MD-CIV-ACT-OTH 1957 of 2019) [2020] NAHCMD 58 (20 February 2020)
Legislation 13
- Abolition of Payment by Cheque Act, 2022
- Close Corporations Act, 1988
- Companies Act, 2004
- Financial Institutions and Markets Act, 2021
- Gaming and Entertainment Control Act, 2018
- Microlending Act, 2018
- Payment System Management Act, 2023
- Police Act, 1990
- Prevention and Combating of Terrorist and Proliferation Activities Act, 2014
- Prevention of Organised Crime Act, 2004
- Regulations relating on Implementation of Security Council Decisions, 2014
- Trust Administration Act, 2023
- Virtual Assets Act, 2023