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| Photo Credit: Modou S. Joof/2012 |
Anti-Money Laundering and Counter-financing of Terrorism (AML/CFT) requirements has been brought to the attention of accountants in English-speaking West Africa by GIABA.
The Inter-Governmental Action Group against Money Laundering in
West Africa, GIABA, is holding a training on the AML/CFT requirements from 11
to 12 September, 2013 in Banjul, The Gambia.
The Financial Action Task Force (FATF) revised standards place
obligations on accounting professionals to adopt and implement AML/CFT
measures, including risk assessment and application of the Risk-Based
Approach to AML/CFT implementation, GIABA said.
It also includes Customer
identification and Customer Due Diligence, record keeping and reporting of
suspicious transactions, a statement from the organisation said.
The main objective of the programme is to enhance the capacity of
accountants on the revised FATF Recommendations to enable them fulfill their
obligations, The Voice has gathered.
Last year 2012, GIABA held a similar sensitization programme in
Dakar, Senegal, for accountants from Francophone West Africa. The initiative
was a first step in sensitizing accountants and auditors on their roles in
strengthening their countries’ AML/CFT regimes.
“A major resolution at that programme was that GIABA should
sustain efforts to create awareness among the Association of Accountants and
urge member States to direct professional bodies to create self-regulatory
bodies within relevant sectors to further drive AML/CFT compliance,” GIABA
noted.
Participants for today’s training are drawn from The Gambia,
Ghana, Liberia, Nigeria and Sierra Leone. The training will be delivered by
technical experts from the region and GIABA Secretariat through plenary
discussions and experience sharing.
GIABA expects that at the end of the training, there will be
improved compliance by accountants in the implementation of AML/CFT measures,
especially enhanced quality and quantity of suspicious transaction reports (STRs)
from members of the accounting profession to the FIUs.
Also, it hopes for better cooperation between accountants and
regulatory or supervisory bodies.
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