Stakeholders meet on money laundering, terrorist financing

Thursday, March 07, 2019

The Financial Intelligence Unit (FIU) of The Gambia through the Strengthening Anti-Money Laundering Capacities in West Africa (SAMWA) in collaboration with the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) on Monday met at a day’s forum to strategise plans and preventive measures against money laundering and counter financing of terrorism in West Africa.

The forum aimed at improving common approach against Money Laundering and Counter Financing of Terrorism Regimes in West Africa, was held at a local hotel in Senegambia.

Speaking at the training, Alagie Darboe, director of Financial Intelligence Unit, who also doubles as GIABA national correspondent, explained that this was the second session of a series of training programmes organised by FIU on money laundering.

The project, he said, attracted funding by the European Union in collaboration with GIABA.

Darboe acknowledged that the mandate of the FIU of The Gambia as provided in the Anti-money Laundering and Combating of Terrorism Financing Act 2012 is to combat money laundering, terrorism financing and other criminal activities.

“In order to achieve the objective, it is crucial for all the stakeholders to contribute their quota by ensuring that they have appropriate policies and procedures in place by adopting best practices,” he added.   

Dr. Seeku A.K. Jabbi, first deputy governor at Central Bank of The Gambia expressed delight at the turn out and participation of financial institutions to build the human resource capacity on issues relating to not only domestic and regional, but also global challenges of money laundering and terrorists financing in the region.

Jabbie expressed optimism that the training would help boost the capacity of participants in combating money laundering, terrorism financing and other related economic and financial crimes.

“Harmonising the implementation of preventive measures on money laundering and terrorism financing is quite relevant and timely to have a common understanding of the comprehensive national anti-money laundering regime,” he added.

Author: Pa Modou Cham