Meeting on money laundering combating underway

Source: Mohammed Saani Ibrahim, The Accra Times

The 19th Plenary Meeting of the Technical Commission of Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is being held in Accra under the theme: Stop Money Laundering and Terrorist Financing.

Opening the Conference, Ghana's Sector Minister for Justice, Hon. Henrietta Appiah Oppong pledged Ghana's continuous support and commitment in the fight against money laundering in the Sub-region.

She said, in 2010, the Government of Ghana made a political commitment aimed at addressing the money laundering issue raised by the Financial Action Task Force (FATF) by introducing drastic measures to enact and amend relevant laws.

The Minister mentioned legislative measures such as the Economic and Organized Crime Office Act 2010, Anti Money Laundering Regulations 2011, Criminal Offences Amendment Act 2012, the Anti-Terrorism Regulations 2012 amongst others as some of the laws passed by Government to address the issue.

Hon. Henrietta Appiah Oppong indicated that these drastic legislative measures, coupled with the full operationalization of the Financial Intelligence Centre [FIC], led to the de-listing of Ghana from the FATF Public Statement in an unprecedented record of nine months.

She further pointed out that hosting the 19th edition of the Meeting gives credence to Ghana's commitment to eliminating money laundering not only in the country but the sub-region as a whole.

The Justice Minister assured the gathering of Ghana's readiness and commitment to collaborate with the GIABA Secretariat and other member states to ensure that those involved in the illicit practice of money laundering do not find Ghana and West Africa as a pleasant ground for their activities.

Despite the success chalked, Government she emphasized will not be complacent but to further enact and passed laws that will further eliminate the money laundering canker in the country.

She further tasked the security services especially the Police and the Economic and Organized Crime Office [EOCO] to collaborate and sensitize crime officers on money laundering crime.

Hon Henrietta went ahead to call on the FATF to train state institutions and Civil Society Organizations [CSOs] in order to deepen their knowledge on the canker and its negative effects.

On his part Dr. Abdullahi Shehu, Director General of GIABA, commended Ghana for hosting the 19th Plenary Meeting and her commitment to fight money laundering and other transnational economic crimes.

He, however, expressed the hope that Ghana would be able to sustain the gains made in the fight against money laundering to serve as a role model to other countries.

In his welcome address, Mr. Samuel Thompson Essel, Chief Executive Officer of the Financial Intelligence Centre [FIC], said the West Africa sub-region was being watched by the world for the growing incidence of organized crime, corruption and terrorism with its crippling effects on peace, security and development.

The FIC Boss was hopeful Ghana and other member states in the sub-region will be up to the task in the fight against money laundering.