MONROVIA – Several high-ranking members of the 54th Legislature have expressed full support for the strengthening of Liberia’s AML/CFT regime, which seeks to fight and prevent illicit financial practices in Liberia. Those unique commitments and policy statements to improve Liberia’s AML/CFT) laws were highlighted by Representatives Ben Fofana, Samuel Kogar and Kanie Weso, of the committees on Banking and Currency, National Security and Judiciary of the House of Representatives who participated in a legislative validation engagements workshop in Buchanan City, Grand Bassa County. The district # 5 lawmaker of Nimba County noted that the enactment of international best practice laws like AML/CFT regulations and Proceed of Crimes Act of 2019 could greatly safeguard the future of Liberia and minimize financial crimes. He expressed optimism that the passage could help for the subsequent procurement of modern software which other countries are currently using to detect money laundering and other suspicious financial transactions. According to him, the passage of the law is in conformity with international best practice and could greatly aid Liberia to be considered as a reliable country for sustainable investments.

Source: Front Page Africa September 21, 2021 06:23 UTC