MONROVIA – Liberia’s Financial Intelligence Unit (FIU) has uncovered that the risks of money laundering in the financial sector and among the ‘Designated Non-Financial Business Professionals (DNFBPs) are high. While the report shows that the major outcomes of the NRA portray Liberia’s money laundering risks as high in the financial sector as well as the DNFBPs, the NRA report also reveals that Liberia’s terrorist financing risk is low. With the completion and publication of the report, Mr. Harris said the FIU will launch and anti-money laundering policy, strategy and action plan on mitigating the risks relating to money laundering in Liberia. He said financial institutions and DNFBP will be required to use the NRA Report on money laundering and terrorist financing as a guide in mitigating the risks to money laundering in their respective sectors. “Liberia’s financial sector is bank dominated, as is typical of low-income developing countries,” the report said.
