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{
    "id": 194638,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/194638/?format=api",
    "text_counter": 81,
    "type": "speech",
    "speaker_name": "Dr. Shaban",
    "speaker_title": "The Minister for Special Programmes",
    "speaker": {
        "id": 139,
        "legal_name": "Naomi Namsi Shaban",
        "slug": "naomi-shaban"
    },
    "content": " Thank you, Mr. Speaker, Sir. I stand to second the Proceeds of Crime and Anti-Money Laundering Bill. As my colleague has explained, most of the money which is laundered is obtained through criminal activities. The business of narcotics, for example, is one of the avenues that are used by certain people to make this kind of money. Such people have been hiding this money in our country, hoping that it will \"cleaned\" and utilised properly. Such criminals invest heavily in many countries, especially the developing countries. Mr. Speaker, Sir, this kind of money finds its way into the Third World countries through international criminals. The fact that such money has been got through criminal activities does not make it good money. We need to have a law in place to ensure that people who are involved in money laundering are not allowed to invest it. It is a known fact that laundered money has brought down some economies. In Asia, for example, some money that was got from criminal activities was invested there, but one day the investors withdrew that money from the economy. If, for example, certain money launderers in this country want to cover up their activities, they will invest heavily in the stock exchange. If they withdraw their money from the stock exchange, this will make our economy lose whatever gains we will have made. Mr. Speaker, Sir, I would like to emphasise that we should come up with custom-made laws in this country, so that they can suit our situation. At this time, it is important for us to have an anti-money laundering law. It is high time this Bill was fast-tracked, so that we can take care of various issues, which have been brought about by such criminal activities. We need to come up with a law that suits a Third World country. Mr. Speaker, Sir, with those few remarks, I beg to second."
}