Money Laundering and Proceeds of Crime Bill, 2007 has been described by finance minister as one of the weapons government will use to fight corruption in the country.

Dr Timothy Thahane said this when proposing the Bill be read for the second time in the National Assembly on Wednesday.

He said the Bill is intended to improve the Directorate of Corruption and Economic Offences Act of 1999 as measures to be used by the government to fight corruption.

He said the most common corruption in the country is related to money, hence it focuses on financial issues and property.

The Minister stated that the bill, will be used as guidelines to be used in addressing money laundering as well as other related issues like buying property using stolen money.

'It will enable authorities to investigate public servants and us (Cabinet Ministers) to be investigated, and findings be handed over to the courts of law to act accordingly,' he stressed.

Dr Thahane pointed out that the law will also enable Lesotho to work and cooperate with other nations in tracing monies saved in other banks outside the country illegally as well as those coming from other countries illegally.

However, he said the law will also protect innocent people, not to be victimized and that an authority will be established that will oversee that the law is being implemented properly.

The minister was seconded by Dr Mphu Ramatlapeng, the Minister for Health and Social Welfare, who said if enacted, the law will give Lesotho a good name and improve its image internationally.

She also observed that it will attract investors and to come and invest in the country with confidence, while on the other hand discouraging those seeking to use the country as a 'den of criminals'.

On the other hand, a Member of Parliament representing All Basotho Convention (ABC), Mr. Rantelali Shea said the bill is crucial and important only if it will be used effectively and efficiently.

He said if the enacted law will not be used to root out corruption as intended, there will be no use for it, only to impress the outside world.
 

Source: LENA 19/09/2007