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

Tambadou: Money laundering, terror financing potential to fuel more crimes

The challenged aspect for civil society is to increase knowledge in the area of effect of transnational organized crimes - Adama Coulibaly, GIABA DG (Photo: GIABA Secretariat).

GIABA recognizes civil society’s potential in fight against money laundering

CSOs are usually influential in promoting good governance, human rights and fighting against corruption. GIABA Photo: A regional stakeholders meeting in Dakar on emerging global trends in AML/CFT.

GIABA: Saly Forum Tackles Emerging Anti-Money Laundering Issues In West Africa

President of ECOWAS Commission, HE Marcel Alain de Souza (middle) flanked by Director General of GIABA, HE Mr. Adama Coulibaly (left) and Speaker of the ECOWAS Parliament, HE Mustapha Cisse Lo (right) and other participants at the “Regional Stakeholders Forum on Emerging Global AML/CFT Issues and Implications for GIABA Member States” in Saly, Senegal (Tuesday 16 – Thursday 18 August 2016)

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 urged to show greater commitment in fight against money laundering

…asked to address deficiencies to avoid blacklist 

Besides money laundering and terrorism-financing threats, there is still a high perception of public corruption in The Gambia, according to reports.

Gambia: Progress slow in implementation of money laundering measures

Recent seizures of cocaine and marijuana demonstrate, the country is also one of the routes for drug trafficking in West Africa, GIABA says. (Photo shows cocaine bust, estimated to worth $1 billion, June 2010, Banjul)

Sub-regional course to enhance financial intelligence operations

A five days training on ‘financial analysis techniques for Financial Intelligence Units (FIUs) and their partner agencies from The Gambia and Sierra Leone’ will further enhance the operational capacity of FIUs, the organisers say.

The United Nations Office on Drugs and Crime, UNODC, says the June 30-July 4 course will foster synergies with key partner agencies in The Gambia, Sierra Leone, Ivory Coast and Ghana – which made up the course participants.

“FIUs are a key player when it comes to anti-money laundering and counter-financing terrorism, AML/CFT, as they form the link between both components,” Ludovic D’HOORE of UNODC says on Monday at an international hotel in Banjul, the Gambian capital.

Gambian man charge with money laundering

The police in Banjul Wednesday charged a Gambian man with money laundering.

Omar Jallow, who denied the charge, is accused of receiving 38, 000 pounds (D2, 280, 000) from one Dodou Njie, a UK-based Gambian, through a Guaranty Trust Bank Account No: 201-1-114897-1590 with intent to conceal or render assistance.

The police said Mr Jallow knows or have reason to believe that the money has being laundered by the sender Dodou Njie or must have being unlawfully obtained.

He was not represented by a lawyer when he appeared at the Kanifing Magistrate Court on April 30, 2014.

FIU ready to work with anti-money laundering journalists network in Gambia

L - R: Mr Drammeh, Mr Jahateh and Mr Camara (Photo Credit: MSJoof/TNBES/Feb2014)

The director of the Financial Intelligence Unit (FIU) has promise to work with the Network of Journalists against Money Laundering and Terrorism Financing – The Gambia, a national chapter of the sub-regional network.

Yahya Camara said his Unit is ready to work with the network to see how best the right information on the scourges of the twin evils of Money Laundering and Financing Terrorism (ML and FT) reach the masses. 

The FIU is established by an Act of the parliament and is mandated to render services such combating ML and FT in The Gambia.

Criminals look for vulnerable sectors to launder their proceeds – Dr Shehu

GIABA DG Dr. Abdullahi Shehu says criminals are stepping-up their illicit actiities (Photo Credit: Modou S. Joof/2012)

Following the implementation of regional and national Anti-Money Laundering and Counter-financing of Terrorism (AML/CFT) measures with emphasis on financial institutions, criminals look for vulnerable sectors through which they could launder their proceeds, according to Dr. Abdullahi Shehu.

The Director General of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) explain on Wednesday that one such vulnerable sector is the designated non-financial instititions, business professions (DNFBPs).

DNFBPs comprises of accountants, real estate agents, lawyers, notaries, and other independent legal profesionals, he said during a GIABA-organised training on the AML/CFT requirements for accountants in English-speaking West Africa from 11 to 12 September, 2013 in Banjul, The Gambia.

GIABA bring AML/CFT requirements to West African accountants in Banjul

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.

Sierra Leone: Youths vow to fight against money laundering

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

Youths in Sierra Leone have pledged their commitment to the fight against money laundering and financing of terrorism, corruption, and transnational organised crimes, according to GIABA, an inter-governmental agency fighting against the same crimes in West Africa.

It pledge followed an Open House Forum for Youths in that country on the theme “Mobilising   the Youths against Organized Crimes” facilitated by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

The July 25 forum, attended by 160 young people from tertiary institutions, youth coalition groups and the media in Sierra Leone, culminated in a communiqué in which the youths resolved “to assiduously become advocates of a corrupt-free society”.

GIABA to mobilize youths against organised crime

English: Logo of The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) Русский: Логотип Межправительственной группы по борьбе с отмыванием денег в Западной Африке (ГИАБА) (Photo credit: Wikipedia)

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) will on Thursday mobilize youths against organised crime by targeting their attitudes, behaviors and beliefs.

The agency’s 7^th Edition Open House Forum is slated for July 25, 2013 at the Miatta Conference Centre in Freetown, Republic of Sierra Leone. 

It will provide an opportunity for youths to embark on advocacy by helping to disseminate Anti-Money Laundering and Counter-Financing Terrorism (AML/CFT) messages among their peers and political decision-makers, thereby becoming important policy advocates, GIABA said.