Experts Meet In Accra To Discuss Anti Money Laundering

In a collaborative effort to combat money laundering and financial crimes, the inter- governmental action group against money laundering in west Africa (GIABA) and the ECOWAS gender development centre (EGDC) is organizing a three-day regional Forum in Accra from December 17- to 19, 2024 at the Alesa Hotel.

The Forum’s primary objective is to facilitate an interactive policy dialogue around issues impacting the informal economy and cash transactions to enhance the implementation of Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) in the region.

Addressing participants at the forum, Mr. kwaku Dua GIABA national correspondent CEO-financial intelligence center FIC Ghana welcome participants and emphasized the growing prominence of transnational organized crimes.

Dua cited estimates from the united nations convention against transnational and organized crime (UNTOC) that came into force in the year 2003 and said its main protocols are to prevent suppress and punish trafficking in persons especially women and children.

Mr. DUA highlighted the pivotal role of women who have traditionally been victims of crime in general and stated “there are some evidences pointing to the fact that some women are the real engineers of these crimes”and made mention of the fact that, the workshop will help change misconception and also propose the way forward to curbing transnational organized crime.

Also the Director General-Inter Governmental Action Group Against Money Laundering in west Africa (GIABA) Mr. Edwin Harris who was represented by Dr. Jeffrey Isima, said
GIABA’s efforts in implementing beneficial ownership registers and enhancing supervision of sectors prone to Money laundering risks, such as Non-Governmental Organizations (NGOs), real estate industry, as well as churches and mosques.

Ms. Harris underscored the importance of collaboration between the various stakeholders, including accountable institutions, competent authorities, the private sector, and international partners.

Drawing attention to the role of individuals and institutions in combating organised crime, Mr. Harris cautioned against unwitting involvement in illicit financial activities.

He highlighted common tactics employed by criminals, such as using women as conduits for transferring illicit funds or exploiting educational institutions for laundering money.

Moreover, Mr. Harris urged vigilance regarding fraudulent schemes, including deceptive job advertisements and internet scams, which could unwittingly facilitate money laundering activities.

The forum was officially opened by Ghana s minister of gender ,children and social protection Hon. Darkoa Newman who was represented by Ms. karikari Bediako and called on participants to aim at identifying vulnerabilities and proposing mitigating measures, to address money laundering activities in the sub region.

She commended GIABA’s involvement in this critical regional endeavor.

The gender minister thanked all participants for their support and encouraged active engagement in combating money laundering, stressing the collective responsibility in ensuring that only funds from legitimate sources circulate within the economy in the subregion.

Indeed, one of the programme’s pivotal outcomes is to reinforce inter-agency collaboration in uncovering complex financial crimes.

By fostering a shared understanding among participants, the forum seeks to address the importance of women in which different agencies possessing evidence on a case can work together.

As the fight against money laundering and terrorist financing continues, collaborative initiatives like this forum serve as crucial platforms for fostering awareness, understanding, and collective action against these pervasive threats to global financial integrity.

By: Frank owusu Obimpeh Alesa hotel Ghana