BY: MOHAMED SAHR
In a bid to bolster efforts against money laundering in Sierra Leone, the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) recently conducted a one-day sensitization seminar on money laundering reporting. Held at Hotel Barmoi in Aberdeen, Freetown, the seminar attracted various media outlets and key stakeholders.
Timothy Melaye, the Representative of the Director-General of GIABA, highlighted the organization’s role as a specialized institution of the Economic Community of West African States (ECOWAS) and a FATF-style Regional Body for West Africa. Established in 2000 by the ECOWAS Authority of Heads of State and Government, GIABA is mandated to safeguard member States’ economies from the proceeds of crimes laundering and combat terrorism financing.
Melaye emphasized GIABA’s focus on ensuring member States’ compliance with international standards on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). Through mutual evaluations and peer review mechanisms, GIABA assesses the technical compliance and effectiveness of AML/CFT systems within member States, in accordance with international standards.
Additionally, GIABA conducts research and typologies exercises to identify emerging money laundering and terrorist financing trends, thereby strengthening preventive and enforcement efforts in the region.
Chernor Bah, Minister of Information and Civic Education, commended GIABA’s pivotal role in leading the fight against money laundering, terming it an indispensable institution. He stressed the importance of collective action, urging collaboration among various institutions, including the media, to make the fight against money laundering a national priority in Sierra Leone.
Dr. Williette PRO James provided insights into the methodology and techniques of investigating money laundering and terrorist financing for media practitioners. David N. Borbor, Director of the Financial Intelligence Unit (FIU), urged the media to advocate and raise awareness about the issue in their respective workplaces.
The seminar underscored the significance of collaborative efforts in combating money laundering and emphasized the crucial role of the media in disseminating accurate information and raising public awareness to curb the spread of misinformation and disinformation.
This proactive approach by GIABA and other stakeholders signals a concerted effort to strengthen anti-money laundering measures and safeguard Sierra Leone’s economy from illicit financial activities.