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Lesotho Strengthens Defense Against Financial Crimes Through Key Partnership

by Tsepiso Serabele
August 29, 2024
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Lesotho Strengthens Defense Against Financial Crimes Through Key Partnership
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In a significant step to strengthen its defenses against terrorism and money laundering, Lesotho has established a key partnership between the Office of the Registrar General and the Lesotho Mounted Police Service (LMPS). This collaboration, formalized through a newly signed memorandum of understanding (MoU), reflects the nation’s commitment to improving its legal and institutional frameworks to tackle these global challenges.

Registrar General Mamoretlo Mohapi emphasized the importance of this partnership, highlighting Lesotho’s dedication to following the Financial Action Task Force’s (FATF) 40 recommendations. These international standards are essential for the country’s ongoing efforts to combat financial crimes.

“The fight against terrorism and money laundering is not just a national issue; it’s a regional and global one,” Mohapi remarked, underscoring the crucial role her office plays in overseeing and registering Non-Profit Organizations (NPOs). She noted that NPOs, including religious groups, orphanages, and other charitable entities, are often at risk of being exploited by money launderers due to their limited resources and oversight.

Lesotho’s work in this area began with a 2010 assessment that identified the NPO sector as a significant area of concern, despite being less prevalent than in other regions. Mohapi stressed the importance of education and awareness across all ten districts of the country, despite the challenges posed by limited resources.

The MoU also addresses the disturbing trend of children being unknowingly involved in activities funded by terrorist organizations. Many parents, unaware of the dubious sources behind their children’s education, may unintentionally be supporting these illegal activities. The Police Commissioner highlighted the critical role of such collaborations in combating these hidden dangers.

LMPS Commissioner Advocate Borotho Matsoso further explained that money laundering seriously threatens Lesotho’s economic stability by discouraging foreign investment, which is crucial for national development. “Money laundering not only threatens our national security but also undermines the confidence of foreign investors,” he stated, stressing the importance of unity in national security efforts to maintain a stable investment climate.

This new partnership between the Office of the Registrar General and the LMPS is expected to greatly enhance Lesotho’s ability to detect, prevent, and combat financial crimes, ensuring the country remains vigilant and proactive in the global fight against terrorism and money laundering while protecting its economic future

Tsepiso Serabele

Tsepiso Serabele

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