- Search Results
 
 
FIU Craves Media Role In Curbing Money Laundering
Date Uploaded: May 01, 2017

Montserrado County Flag

 

FIU Craves Media Role In Curbing Money Laundering

By Prince S. Nagbe

MONROVIA, April 30 (LINA) – The Chief Executive Officer of the Financial Intelligence Unit of Liberia (FIU), Alex Cuffy, has said countering money laundering and financing terrorism requires the collective effort of Liberians, especially the media.

Opening a one-day training on Anti-Money Laundering and Financing of Terrorism for media practitioners at the Ministry of Information on Friday, Cuffy said the media plays a pivotal role in this fight by reporting issues of money laundering and financing terrorism.

“The fight against this menace cannot be carried out by the FIU alone. It needs the collaborative effort of the relevant institutions, including the media, to get this done effectively,” the FIU official emphasized.

Meanwhile, he has called on the participants to report on the upcoming Intergovernmental Action Group against Money Laundering in West Africa (GIABA) 27th Technical Commission/Plenary and 17th Ministerial Committee Meetings, which is expected to take place from May 7-13 in Monrovia.

Also speaking at the training, the Press Union of Liberia (PUL) President, Charles Cuffey told journalists that money laundering is a horrible menace that incapacitates the financial processes of any country and as such the media should work with the FIU in ensuring that those involved in such unwholesome act are exposed.

Cuffey pointed out that because money laundering and financing of terrorism are counterproductive to growth, he hoped the workshop strengthens the media role in reporting these issues to help revitalize the economy.

Representing Information Minister Eugene Nagbe, the Director of Public Affairs at the Ministry of Information, Lawrence Fahnbulleh encouraged journalists attending the training to adequately apply the knowledge gained to help minimize if not eradicate this threat from Liberia.

Topics treated at the workshop include Definition of Money Laundering and Terrorist Financing; Measures to combat Money Laundering and Terrorist Financing; Implementation of the Anti-Money Laundering and Countering Terrorism Financing compliance program.

Others are the roles of the Financial Intelligence Unit (FIU) and ways agencies report transactions to the FIU, and the role of the Media in countering Money Laundering and Terrorist Financing in Liberia.

The FIU, which was established as an autonomous agency by an Act of the Legislature in 2012, is responsible to request, receive, conduct preliminary investigations, analyze and disseminate information to relevant authority concerning suspected proceeds of crime and terrorist property.

LINA PSN/PTK      

 

latest headlines
‘Decentralizatio One Of Biggest Legacies Of Gov’t’ - Official
Deputy Internal Affairs Minister Varney Sirleaf has described the decentralization program as one of the biggest legacies of the Ellen Johnson Si ...more
Tulay Vows To Ensure Independent LWSC County Sub-Stations
The Managing Director of the Liberia Water and Sewer Corporation (LWSC), N. Hun-Bu Tulay, has promised to ensure that all county stations of the ...more
Supreme Court To Hear Argument in Sable Mining Case Friday
The Supreme Court of Liberia will begin hearing argument in the petition for the Writ of Certiorari filed against Judge Yamie Q. Gbeisay, assigne ...more
LWSC Boss Hails AfDB For US$8.3m To Rehabilitate Water Plant
The Managing Director of the Liberia Water and Sewer Corporation (LWSC), N. Hun-Bu Tulay, has hailed the African Development Bank (AfDB) for maki ...more
AU Envoy Presents Accreditation To FM Kamara
Foreign Minister Marjon V. Kamara has received the Letters of Accreditation from the new Head of the African Union Liaison Office in Liberia, Mr. ...more
Gov’t Promises To Continue Robust Fight Against Fistula
The Liberian Government has promised to robustly continue the fight against Fistula in the country. ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency