Gambia training to build capacities of financial institutions on money laundering risks

Director of Gambia's financial intelligence unit, Alagie Darboe, said it was important to "identify, assess, and mitigate" risks associated with money laundering and terrorist financing (Photo Credit: @JoofMS/TNBES).

Gambia to pass law criminalizing market manipulation

The process of creating a new law on market manipulation is meant to comply with regional and global standards, says Alhagie Darboe, FIU director (Photo Credit: @JoofMS/TNBES).

Banjul host sub-regional workshop on fight against Hezbollah’s financial activity

In 2013, Yahya Jammeh expelled a Lebanese mogul whose businesses are blacklisted by the US government for allegedly "funding the Hezbollah movement" and "engaging in money laundering.” Photo Credit: AFP

Gambia: GIABA to Assist Financial Institutions on ML/TF Risk Assessment

The anti-money laundering agency, GIABA, has said it is to assist financial institutions in The Gambia to effectively address existing challenges and new requirements emerging from the revised Financial Action Task Force (FATF) Standards and the new methodology.

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.

GIABA to Sensitize Gambian Youths on Ills of Money Laundering, Financing Terrorism

Cross section of participants at the 7th edition of the GIABA Open House Forum in Freetown, Sierra Leone in 2013 (Photo Credit: GIABA)

Gambia should quickly finalise national anti-money laundering strategy

GIABA’s director of research, Mr Mu’Azu Umaru speaking on behalf on director general of GIABA, Adama Coulibaly - Photo Credit: MSJoof/TNBES/GNJaML

The director general of the Inter-governmental action group against money laundering in West Africa (GIABA), Adama Coulibaly, has advised The Gambia to “quickly finalise” its national anti-money laundering and counter-financing terrorism (AML/CFT) strategy.
 

Gambia has chosen to develop a national strategy that will serve as a driving force for deepening of its AML/CFT system.

In a statement read on his behalf during an April 1-3 “stakeholders workshop to develop the strategy” at a local hotel in Kololi, The Gambia, Mr Coulibaly said the timing is auspicious as the second round of evaluations for GIABA member states is set to begin in the last quarter of 2015.