Press release: $1.6 trillion lost in illicit fund in 2006

Dr Abdullahi Shehu, GIABA's Director-General

Source: Globalnewsreel.com

It is asserted that developing countries lost about US$858.6 billion - $1.6 trillion in illicit financial flows in year 2006, a situation that became necessary to fight the menace of money laundering towards promoting democracy, good governance, as well as international peace and security.

Ghana: National security deputy, 3 others arrested over tax malpractices

The deputy director of the National Security and three other officers of the Custom Excise and Preventive Division of the Ghana Revenue Authority at the Tema port have been arrested in connection with some tax malpractices against the state.

Cabinet approves anti-terrorism amendment law

Mr Ibrahim Murtala Mohammed, a Deputy Minister of Information and Media Relations, on Monday said Cabinet had approved the Anti-Terrorism Amendment Act and forwarded it to Parliament for subsequent approval.

Prez Mahama Affirms Government’s Commitment To Fighting Money Laundering

President John Dramani Mahama

Source: Peacefmonline.com

President John Dramani Mahama has reaffirmed Ghana’s commitment of fighting money laundering and terrorism financing.

GIABA Calls For Integrated Approach To Combat Terrorism

Dr. Abdullahi Shehu (R), Director-General of GIABA

Source: GIABA Secretariat

Director General (DG) of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Dr. Abdullahi Shehu has called on national, regional and international actors to close ranks in order to effectively fight the menace of terrorism in Africa.

Terrorism Financing Goes Beyond Mutual Evaluation Reports – FATF Boss

Vladimir Nechaev

By Patrick Baidoo with additional file from Globalnewsreel.com

(Coordinator, AML Journalists Network – Ghana)

Vice-president of the Financial Action Task Force (FATF), Vladimir Nechaev has advised its member States and regional styled bodies not to rely solely on the adoption of Mutual Evaluation Reports (MER) in determining that their financial systems are money laundering and terrorism financing compliant.

West Africa must work closely with allies to counter money laundering

Gen. Gowon (R) presents GIABA's reports to President Mahama

Source: Globalnewsreel.com

Former Nigeria Head of State, Gen. Yakubu Gowon said it has become very crucial for the West African sub-region to work closely with key allies in the fight against money laundering and financing of terrorism.