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Information Sharing Key To Curbing Money Laundering - Ajisomo
Date Uploaded: May 15, 2017

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Information Sharing Key To Curbing Money Laundering  - Ajisomo

By Prince S. Nagbe

MONROVIA, May 14 (LINA) – The Representative of ECOWAS President to Liberia, Ambassador Babatunde Ajisomo, has said effective coordination and information sharing and management are key to curbing money laundering in West Africa.

Ambassador Ajisomo said information sharing helps in efforts to investigate, detect, counter and prosecute criminal activities, especially money laundering, in a more robust, effective and efficient manner.

The ECOWAS Ambassador made the statement recently in his “Goodwill Message” at the official opening of the Inter-Governmental Body Against Money Laundering in West Africa (GIABA) 27th Technical commission/Plenary Committee meeting held at the Monrovia City Hall.

Ajisomo emphasized that the fight against this scourge is a collective struggle, which can only be achieved through a more open and sustained international cooperation, stressing, “We cannot allow money laundering and the financing of terrorism mitigate our collective resolve to make the sub-region an investment destination for potential investors.”

He assured regional and international partners of ECOWAS’ readiness and commitment to collectively build a region of peace, freedom, good governance and sustainable development for the benefit of its citizens.

Meanwhile, Ambassador Ajisomo has noted that the fight against money laundering and the financing of terrorism must not be left with GIABA and her experts and partners alone, but should be the collective effort of the governments of ECOWAS States.

“The general public must be continually sensitized and encouraged to report suspicious illicit transfers and movement s of dirty money within the sub-region,” he stressed.

Ajisomo has at the same time commended ECOWAS member states, including Liberia, for putting into place necessary legislations aimed at fighting money laundering and the financing of terrorism, as well as the enactment of laws on Whistle Blowing and the protection of Whistle Blowers.

He called on ECOWAS States, GIABA authorities, international and sub-regional partners and experts to conduct regular training on anti-money laundering and countering terrorism financing for  managers and analysts to minimize the capacity

gap facing the fight against this scourge.

“All our member states are having one form of economic challenge or the other, which have made it imperative to identify critical priority areas, one of which happens to be capacity building and training,” the ECOWAS Representative added.

LINA PSN/TSS/PTK

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