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Gov’t to commit more funds to fight money laundering

Jul 28, 2017, 11:29 AM | Article By: Lamin Jahateh

The Gambia government has committed to increasing funding to fight money laundering and terrorism financing as efforts to tackle the crimes are becoming increasingly complex and demanding.

The Ministry of Finance, on behalf of the government, has pledged to increase the amount of annual subvention to the Gambia Financial Intelligence Unit (FIU). 

The FIU has been established by the government as an autonomous agency to spearhead national initiatives to fight money laundering and terrorism financing.

“In case you [FIU] have any challenge with the subvention, you can quickly inform my office [the Ministry of Finance] and consideration will be made to increase the subvention,” said Ansumana Touray, deputy permanent secretary at the Ministry of Finance and Economic Affairs. 

“We will do our best to provide financial support to the FIU to the best of our ability, to the best that the resources of The Gambia can support.”

Mr Touray made this remark at the opening of a three-day sensitisation workshop on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Requirements in ECOWAS Member States, 24-26 July 2017.

The forum was organised by the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) for CSOs that are actively involved in good governance, corruption, and other related issues. 

Touray said the FIU might have some financial constraints in the previous regime, but the new government is ready to support the Unit in efforts to fight terrorism financing and money laundering.

“We have to tighten our belts to make sure that we fight money laundering and terrorism financing,” he emphasised.

“We all know that resources are scarce, but be rest assured that our government, under the leader of President Adama Barrow, will support the FIU with all the necessary resources that they need to the best of our ability.”