The Financial Intelligence Centre (FIC) helped freeze, preserve and recover more than N$100 million in suspected criminal assets during the 2025/26 financial year, as authorities intensified efforts to combat money laundering, corruption, tax evasion and other financial crimes.
According to the FIC’s latest annual report, Director Bryan Eiseb said the Centre issued 20 account restriction orders covering 46 bank accounts with an estimated value of N$61 million.
The restrictions were imposed after authorities suspected the funds were linked to proceeds of crime, preventing access to the money while investigations continue.
The FIC also supported the granting of seven preservation orders worth N$5.21 million, including N$5.17 million held in bank accounts and N$37,000 in cash, to prevent the assets from being dissipated during legal proceedings.
“These interventions create an important avenue for further inquiry, preservation of suspected proceeds of crime, and timely follow-up by investigating authorities. The report also reflects concrete impact across competent authorities. FIC intelligence supported several investigations, assisted the Anti-Corruption Commission, and contributed to NamRA outcomes, including tax assessments and recoveries,” Eiseb said.
The report also recorded a sharp increase in unexplained wealth orders (UWOs), which rose from two in the previous financial year to eight during 2025/26.
The orders targeted assets considered disproportionate to individuals’ known lawful income and covered N$1.62 million held in bank accounts and N$310,000 in cash.
Permanent forfeiture orders also increased significantly, rising to N$25.27 million from N$5.4 million in the previous year. The forfeited assets comprised N$25.23 million in bank funds and N$39,000 in cash.
Beyond asset recovery, financial intelligence generated by the FIC also strengthened tax enforcement.
According to the report, intelligence shared with the Namibia Revenue Agency (NamRA) supported tax assessments worth N$11 million during the reporting period, while N$29 million was recovered from assessments conducted in previous years. Authorities also opened 19 criminal investigations into suspected tax offences linked to money laundering.
Several high-profile investigations highlighted the impact of the Centre’s intelligence.
In one drug trafficking case, authorities seized N$164,000 in suspected criminal proceeds and preserved a further N$152,000 held in linked bank accounts.
In another case, investigators recovered N$2.4 million that had allegedly been fraudulently diverted from a government account linked to a VAT refund.
A separate illicit diamond investigation resulted in the seizure of luxury assets worth approximately N$4 million, cryptocurrency cards valued at N$2.4 million and the arrest of three suspects.
The report also shows a sharp increase in regulatory enforcement.
Administrative sanctions for breaches of anti-money laundering and counter-terrorism financing laws increased from 25 in the previous year to 342 during the reporting period, while financial penalties imposed totalled N$19.91 million.
Financially, the FIC reported a surplus of N$26.2 million, up from N$19.1 million in the previous financial year.
The Centre’s accumulated surplus increased to N$74.4 million, while total assets rose from N$59.2 million in 2025 to N$87.4 million in 2026. Investments also increased from N$4 million to N$4.4 million.
“Total revenue amounted to N$26.2 million, compared to N$19.1 million in the previous year. The accumulated surplus at the end of the year amounted to N$74.4 million. Total assets increased from N$59.2 million in 2025 to N$87.4 million in 2026. Investments increased slightly from N$4 million to N$4.4 million,” Eiseb said.
