AHRAO advocates for joint action to combat financial scams
Addressing the issue of illegal financial schemes, the African Human Rights Organisation (AHRAO) last week held a meeting with the Namibia Revenue Agency (NamRA), the Social Security Commission (SSC) and the Namibia Financial Institutions Supervisory Authority (Namfisa) to discuss the matter and chart ways to mitigate the issue and raise awareness within communities.
Chairing the discussions held at NamRA's offices in Windhoek, AHRAO founder and direct manager Abraham Nekwaya spoke about how scammed individuals are turned away by various financial and social governance entities that claim these crimes are not within their mandate.
“Affected Namibians who believed illegal financial schemes had financially duped them approached the AHRAO in April last year, airing their grievances. However, our engagements with the Bank of Namibia (BoN) and Namfisa have proven futile,” Nekwaya said.
‘Put minds together’
He thus urged entities not to shy away from the matter but rather “put their minds together and propose mitigation measures to put the illegal activities to an end.”
According to research conducted by AHRAO, most individuals who fall prey to the scams claim they were presented with documentation in reference to the Business and Intellect Property Authority (Bipa), NamRA, SSC and the Employment
Equity Commission.
To counter this, AHRAO proposed that Bipa and BoN collaborate to streamline the registration process for businesses engaged in financial activities.
By harmonising registration requirements and procedures, it will be easier for legitimate financial entities to comply with regulatory obligations while ensuring that illegal operations face greater scrutiny and barriers to entry, Nekwaya said.
“We should also work together and launch public awareness campaigns to educate individuals about the risks associated with illegal financial schemes and how to identify and avoid them. This will help prevent more individuals from falling prey to fraudulent schemes,” Nekwaya noted.
In response, Chrispine Kapalu, NamRA's principal officer of revenue enforcement specific interventions, cautioned that crime is like a chameleon, changing daily. Kapalu further emphasised that it is paramount to approach the relevant stakeholders – community policing and the women's and men's network – who educate communities on various crimes.
Strict rules
Namfisa’s market conduct executive member, Hilka Alberto, said Namfisa has strict rules and regulations in place that restrict them from addressing illegal money schemes.
“However, we do have consumer education initiatives aimed at empowering consumers with the knowledge they need to make informed financial decisions that we could make use of,” said Alberto.
Chairing the discussions held at NamRA's offices in Windhoek, AHRAO founder and direct manager Abraham Nekwaya spoke about how scammed individuals are turned away by various financial and social governance entities that claim these crimes are not within their mandate.
“Affected Namibians who believed illegal financial schemes had financially duped them approached the AHRAO in April last year, airing their grievances. However, our engagements with the Bank of Namibia (BoN) and Namfisa have proven futile,” Nekwaya said.
‘Put minds together’
He thus urged entities not to shy away from the matter but rather “put their minds together and propose mitigation measures to put the illegal activities to an end.”
According to research conducted by AHRAO, most individuals who fall prey to the scams claim they were presented with documentation in reference to the Business and Intellect Property Authority (Bipa), NamRA, SSC and the Employment
Equity Commission.
To counter this, AHRAO proposed that Bipa and BoN collaborate to streamline the registration process for businesses engaged in financial activities.
By harmonising registration requirements and procedures, it will be easier for legitimate financial entities to comply with regulatory obligations while ensuring that illegal operations face greater scrutiny and barriers to entry, Nekwaya said.
“We should also work together and launch public awareness campaigns to educate individuals about the risks associated with illegal financial schemes and how to identify and avoid them. This will help prevent more individuals from falling prey to fraudulent schemes,” Nekwaya noted.
In response, Chrispine Kapalu, NamRA's principal officer of revenue enforcement specific interventions, cautioned that crime is like a chameleon, changing daily. Kapalu further emphasised that it is paramount to approach the relevant stakeholders – community policing and the women's and men's network – who educate communities on various crimes.
Strict rules
Namfisa’s market conduct executive member, Hilka Alberto, said Namfisa has strict rules and regulations in place that restrict them from addressing illegal money schemes.
“However, we do have consumer education initiatives aimed at empowering consumers with the knowledge they need to make informed financial decisions that we could make use of,” said Alberto.
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