Director-General of GIABA, Edwin W. Harris Jr
The Director-General of GIABA, Edwin W. Harris Jr., has announced funding opportunities for West African Civil Society Organizations (CSOs) in the form of grants to enable them to intensify efforts and measures against Money Laundering and Terrorist Financing regimes.
This was disclosed at the opening of a 3-day Regional Sensitization Workshop at the Fiesta Royale Hotel in Accra, on Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT), designed for West African Civil Society Organizations (CSOs).
The workshop is being organized by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialized institution of ECOWAS mandated to combat Money Laundering and Terrorist Financing.
"Over the last 24 years, GIABA has continued to drive massive stakeholder engagement to ensure that the proceeds of crime are not laundered, to block the financing of terrorism, curb predicate offences, and promote economic growth that benefits everyone.
GIABA has successfully completed the second round of Mutual Evaluation of all 17 member countries, with only Sao Tome and Principe’s report awaiting plenary discussion in November.
Therefore, I urge you all to go through the report of your countries, identify the gaps they have addressed or are addressing, and use the content to engage policymakers in advocacy and in preparation for a better outcome in the upcoming third round of Mutual Evaluation.
In light of this, GIABA will provide some grants for 15 CSOs in the region to support their work in advancing the cause of AML/CFT in their countries. We, therefore, look forward to your participation in the process," emphasized the GIABA DG.
He admitted that GIABA alone cannot overcome the challenges linked to AML/CTF.
"We need the support of national authorities, ECOWAS, development partners, and the public in our member states in the delivery of our activities to ensure the prevention of criminals from undermining the credibility of our financial systems through the integration of dirty money.
...Whatever efforts we make at the regional level will have little impact without strong national commitments and institutions. So, I invite you to a deep commitment and motivation to take ownership of this fight for the integrity of the economy.
Continue to be vectors of positive change, to have a considerable influence on your followers, so that today and tomorrow will always be better," he further charged.
Mrs. Lucy Abebrese, who read a speech on behalf of the hosts, GIABA National Correspondent and Chief Executive Officer of Ghana's Financial Intelligence Centre, Kwaku Dua, said CSOs over the years have had a positive impact on the sustainable development of economies worldwide.
She added that this GIABA ECOWAS workshop for CSOs across the region is to re-echo their strategic importance so that participants will continue to actively participate and influence governments to apply focused and proportionate measures in a risk-based approach towards Money Laundering & Terrorist Financing.
She applauded GIABA for this commendable step in building the capacities of CSOs in the region, particularly at such an opportune time.
"We will brainstorm on common challenges that affect the effective delivery of your work in the face of fighting money laundering and terrorist financing.
This will go a long way to mitigate the unintended consequences of Recommendation 8 of the FATF Recommendations and our various national legislations.
In many jurisdictions across the globe, including Ghana, CSOs' effective dialogue and strong advocacy with government and Central Banks have birthed specific legislations, financial products, and other initiatives, including representation on statutory boards of Directors to facilitate CSOs' work while strengthening the legal and institutional framework of countries," she noted.
She reiterated that CSOs are considered the wheels that drive the economy through impactful advocacy on policies, governments, and other interventions.
"A robust CSO is an essential ingredient for a thriving democracy, whether it exists to provide advocacy, technical inputs, capacity building, service delivery, social functions, or representation. They are indeed a partnership for progress," she said.
GIABA was established in December 2000 as an ECOWAS specialized institution and later became an associate member of the Financial Action Task Force (FATF) and a FATF Style Regional Body (FSRB) with the mandate to, among others:
i) Facilitate and ensure that Member States adopt adequate measures against ML & FT, in line with acceptable international practices and standards. These are based on the FATF 40 Recommendations, with specific regional peculiarities considered.
ii) Provide a forum for dialogue and share experiences among the Member States, thus creating strong intra-regional cooperation.
iii) Organize self-evaluations (ongoing monitoring) and Mutual Evaluations of compliance by the Member States, using FATF Methodology.
iv) Help Member States establish and implement robust and functioning AML/CFT regimes (coordination bodies, legislation, FIUs, MLA treaties, training, etc.).
