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EU set to fight money laundering in West Africa

Sep 26, 2012, 9:33 AM

The European Union and ECOWSA are currently working on the formulation phase of a regional project intended to fight against money laundering in West Africa.

Funded through the 10th EDF regional initiative programme, the project will include support to the Intergovernmental Action Group Against Money Laundering (GIABA) an ECOWAS agency based in Dakar.

According to The Gambia-EU Cooperation monthly publication for September 2012, a team of experts will carry out a series of missions to ECOWAS countries, to meet with the various key stakeholders and institutions involved in the fight against money laundering.

The objective of the missions, it said, is to produce an analytical study of the fight against money laundering in West Africa and to identify relevant intervention possibilities, in consultation with the Financial Intelligence Units of ECOWAS member states.