This will include Money Laundering and
Terrorist Financing (ML/TF) risk assessment and application of risk-based approach
to the anti-Money Laundering and Counter Financing Terrorism (AML/CFT)
implementation.
GIABA
announced on Friday that it will hold a 3-day national workshop on ML and TF risk
assessment for financial institutions and Designated Non-Financial Institutions
Businesses and Professions (DNFBPs) in Banjul from July 27-29, 2016.
“The
national programme is targeted at high level officials responsible for AML and CFT
compliance in financial institutions (FIs) and DNFBPs in The Gambia,” the
agency said in a July 15 pre-event statement.
GIABA organized a similar workshop last
year in Abuja, Nigeria. However, it said the feedback received from
participants at that programme, and the outcome of subsequent follow-up reports
of member States, show that reporting institutions still face many challenges
in the implementation of AML/CFT measures in West Africa.
It said the Banjul event will focus on “Understanding
the inherent ML/TF Risks in the Financial Sector; Organization and Information
in ML/TF Risk Assessment; Stages of ML/TF Risk Assessment; Application of RBA
in the Implementation of AML/CFT Measures; Managing ML/TF risk of e-payments
and new technologies; De-Risking: Implications for AML/CFT Regime; and Building
a Sound AML/CFT Risk Assessment Methodology.”
Participants are expected to have
comprehensive understanding of how to undertake ML/TF risk assessment in line with
the revised FATF standards and methodologies at the end of the workshop.
GIABA is a specialized institution of ECOWAS and a Financial Action Task
Force–Styled Regional Body (FSRB) responsible for combating the scourge of money
laundering and terrorist financing in the sub-regional economic bloc.
It was established by the Authority of Heads of State and Government of ECOWAS
in 2000 with the mandate to protect the national economies and the financial
systems of member States from abuse and the laundering of the proceeds of
crimes.
Written by Modou S. Joof
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