GIABA Seeks Greater Collaboration in Fight against Money Laundering, Others

0

Obinna Chima

The Director General of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Mr. Adama Coulibaly has highlighted the importance of comprehensive stakeholder engagement in Anti-money laundering and the combating of the financing of terrorism (AML/CFT) in West Africa.

The GIABA boss said particular attention should be paid to the fight against terrorism financing to address the concerns of growing terrorism in the region.

According to a statement, Coulibaly made this call while delivering an address at a 3-day “Regional Stakeholders Forum on Emerging Global AML/CFT Issues and Implications for GIABA Member States,” that took place in Saly, Senegal recently.

He said the need for peace in the region cannot be overemphasised, and brought to light the level of advocacy missions embarked upon by GIABA leadership to mobilise authorities at the highest level in member States.

He noted that such advocacy missions are meant to ensure adequate compliance to global AML/CFT standards and avoid heavy international sanctions that may result from non-compliance. He also called for the need to carry every stakeholder along in the preparation for the second round of Mutual Evaluation exercises of GIABA member States.

He concluded by calling on all stakeholders to expand support and commitment to GIABA and its work to build a peaceful and prosperous region.

In their goodwill messages, the Speaker of the ECOWAS Parliament, H.E. Moustapha Cisse Lo and the President of ECOWAS Community Court of Justice, Hon. Justice Jerome Traore both expressed their solidarity to GIABA and promised support for GIABA in their individual capacities. Particularly, the Speaker highlighted the specific role of Parliament in legislation at various member States and pledge commitment to work with GIABA to rid the region of these deleterious crimes. The Dean of the ECOWAS ambassadors accredited to Senegal also expressed the commitment of the Diplomatic Corps to activities of GIABA and the fight against Money Laundering and Terrorist Financing.