As Liberia prepares for the second round of evaluation about fight against money laundering and counter terrorist financing (AML/CTF) early next year, February 2022, the country, through FIU, has ended a week-long training in Monrovia.
The Inter-Governmental Action Group Against Money Laundering In West Africa (GIABA) is an ECOWAS regional body that supports full compliance against money laundering and terrorism financing.
The workshop in Monrovia brought together competent authorities from various sectors in Liberia.
Stakeholders or competent authorities from the Liberia Anti-Corruption Commission, Financial Intelligence Unit, Internal Audit Agency, Central Bank of Liberia, Ministry of Justice, Liberia National Police (LNP) and the Liberia Revenue Authority (LRA) attended and participated in the five-day intensive training workshop.
Other participants are Accountability Lab, Center For Transparency and Accountability, Lonestar Cell MTN, local banks, Liberia National Drug Enforcement Agency (LDEA), Governance Commission, Liberia Foreign Exchange Bureau Association, among others. The workshop was held at the Monrovia City Hall from August 2—6, 2021.
More importantly, GIABA Director General, Justice K. Aba, and his delegation visited Liberia and interacted with the ministers of Justice, Finance, Executive Governor of the Central Bank of Liberia, among other stakeholders in Liberia.
Meanwhile, the Financial Intelligence Unit, which is the local correspondent of GIABA responsible for fighting money laundering and countering terrorist financing, expressed full readiness for the second round of mutual evaluation, which will be conducted by GIABA.
Hon. Edwin Harris, Director General of Liberia Financial Intelligence Unit, called for human and financial support for Liberia FIU to become successful before and after the mutual evaluation.
During the workshop, the Chief Investigator of LNP, Monroe A. Dennis, called for cooperation and coordination in the fight against money laundering and terrorist financing.
Chief Dennis pointed out that lessons learned from fight against money laundering and terroristic financing cannot be one institution’s business; instead, it requires cooperation and coordination.
He noted that money laundering is a transitional organized crime that has the potential of undermining government and hampering the economy.