Monrovia – Liberia’s Financial Intelligence Unit (FIU) began a money laundering and terrorist financing (ML&TF) national risk assessment (NRA) workshop at the Central Bank of Liberia (CBL) on April 17. This process starts from the worldwide authority, Financial Action Task Force (FATF) in line with recommendation one, which is the authority for money laundering and countering the financing of terrorism. In our region, we have the Inter-Governmental Action Group against Money Laundering on West Africa (GIABA), which establishes a schedule for its members, including two other countries. Ijeh added that the bank sees IFFs, money laundering and terrorist financing (ML/TF) as negative factors on economic development. “We also emphasize the importance of collaboration among the banks and sister institutions like the World Bank, GIABA and United Nations Office on Drugs and Crime (UNODC).

Source: Front Page Africa April 18, 2018 02:26 UTC