Diana Asonaba Dapaah, (M) with executives of GIABA and participants
Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), a specialised ECOWAS institution, has began a 3-day stakeholder engagement with Civil Society Organisations (CSOs) in Accra, on measures to deal with Money Laundering and Terrorism Financing (ML/TF).
The workshop is designed to sensitize civil society of experiences and knowledge on issues within the sub-region and enhance the capacity of CSOs thereby empowering them to take ownership of the fight against ML/TF.
Deputy Attorney General and Minister of Justice, Diana Asonaba Dapaah said GIABA does not only serve as a platform for capacity building but also for thoughtful deliberations on anti-money laundering and counter financing of terrorism.
She said it was unfortunate that the West African region is confronted with the raging issue of money laundering and related financing of terrorism that demands steadfast attention and commitment.
She said the plans of perpetrators to evade scrutiny keeps changing and therefore required continued and commensurate alertness to combat the menace.
She said apart from the complicit financial institutions been damaged, money laundering and financial terrorism have dire consequences on the region’s foreign direct investment.
She stated that though CSOs have continuously played an important role in supporting governments to address issues on money laundering, they have often times been the target of these crimes.
“These perpetrators may not come to you in crowns and in machetes and ammunitions, they rather come in subtle ways particularly through donor funding,” she said.
She asked CSOs to be equally cautious as they solicit for donor funding in order not to be complicit and unawares to the crimes.
Director General of GIABA, Edwin Harris, said money laundering is increasingly linked to organised crime posing a growing trend to consumers, businesses and governments.
According to him, the global nature of economic and financial crime indicates that no nation could fight the problem alone making international cooperation and working with key allies a critical part of the response.
Mr. Harris further mentioned that the 2023-2027 strategic plan of ECOWAS gives priority to stakeholders especially civil society, NGOs, trade unions, think tanks, academia among others admitting the important role played by the groups in combating corruption.
“The purpose of each stakeholder is to protect national economies and financial system of ECOWAS member states against these types of crimes that have adverse impact on the integrity of the financial system,” he added.
Head of Ghana Financial Intelligence Centre, Lucy Abebrese, said the dynamism of money laundering and finance terrorism keeps changing over the years.
She said workshop will highlight the need for CSOs to utilise relevant platforms for the dissemination of information, publications and sharing of information on anti-money laundering and the countering of the financing of terrorism.
She also charged them to work within established network of CSOs committed to anti-money laundering and the countering of financing terrorism course in the West African sub-region.
While thanking GIABA for its role in combating crime especially money laundering, Madam Abebrese also appealed to governments to continue supporting CSOs as they continue to demonstrate their neutrality and objectivity through effective advocacy that contribute to nation building.
By Ebenezer K. Amponsah