By Abibatu Dora Kamara, GIABA Media Coordinator
The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) is holding by videoconference, the 33rd Plenary Meeting of its Technical Commission, from 24 to 28 August, 2020.
Slated twice a year, the plenary meetings aim to discuss the progress made by Member States (MS) in the implementation of measures to combat money laundering and the financing of terrorism (ML/TF).
They promote discussions between technical experts from Member States on threats and challenges linked to ML/TF. These meetings make it possible to address the relevant issues requiring a concerted approach and the harmonization of effective implementation of AML/CFT measures. Finally, as a platform for sharing experiences, plenary sessions provide opportunities for partnerships between experts, representatives of Member States, technical partners and observers in the framework of AML/CFT.
During the preliminary meetings of this videoconference, the focus will be set, among other things, on the review of Mutual Evaluation Processes and Procedures, and updating of the calendar of mutual evaluations of GIABA Member States. The follow-up reports of the 1st Round of mutual evaluations of the Comoros, Sao Tome and Principe, and Liberia will also be examined.
As a reminder, the Mutual Evaluation and Follow-up Processes and Procedures are intended to assess the implementation and effectiveness of laws, regulations and other measures within the framework of the international AML/CFT requirements. They make it possible to check whether all the necessary measures have been fully and effectively implemented. They also aim to help Member States fill in the gaps identified in their AML / CFT system in order to ensure compliance and effectiveness with international standards.
The meetings also include preliminary meetings of the Working Group on Risks, Trends and Methods (RTMG), and the Regional Forum of Financial Intelligence Units (FIU). Finally, other major items such as the presentation of the Director General’s activity report, governance, and the celebration of GIABA’s 20th anniversary, are on the agenda of this videoconference of the meeting.
Prior to the commencement of the meeting, addressing Journalists during a virtual press conference, GIABA’s Director General, Kimelabalou ABA, noted that, “I am happy to report that GIABA has continued to strive and achieve its mandate despite all the challenges associated with the COVID-19 Pandemic. We have devised new means of delivering technical assistance to member States and stakeholders”.
He further stated that under this pandemic GIABA held very key and important programmes which include:
1.Virtual Review/Validation Workshop for a research work that considered Strengthening Capacity for Effective Supervision of Designated Non-Financial Businesses and Professions (DNFBPs) in West Africa.
- Virtual National Workshop on Enhancing AML/CFT Compliance by DNFBPs (Dealers in Precious metals and Stones), Sierra Leone.
3.Virtual Regional Workshop on the Implementation of Beneficial Ownership Information Requirements and
4.Two Regional meetings with Stakeholders/National Correspondents and Heads of Financial Intelligence Units on programme planning and redirection of efforts to achieve results and ensure that the pandemic did not result in creating gaps in our AML/CFT efforts in the region.
