The Inter-Governmental Action Group Against Money Laundering In West Africa - Invitation To Participate

Congratulations Mr. Sylvester Samba

By YAME Editorial Board

Mr. Sylvester Samba, GIABA Participant

YAME Editorial Board wishes to congratulate Mr. Sylvester Samba, Global Times Newspaper Senior Reporter, Freetown, Sierra Leone, and YAME News & Media Contributor, for having invited by GIABA to participate in a Regional Training Workshop on Investigative Reporting on Economic and Financial Crimes for Journalists in Monrovia, Liberia, November 26 - 28, 2019.

The Inter-Government Action Group against Money Laundering in West Africa (GIABA) is a specialized institution of the Economic Community of West African States (ECOWAS) and Financial Action Task Force-Styled Regional Body (FSRB) established by the Authority of Heads of State and Government of ECOWAS in the year 2000 with the mandate to protect the economies of Member States, from the laundering of the proceeds of crimes.

Money laundering is a complex phenomenon generating serious consequences politically, social, and economic development of countries of the world. It facilitates crime and corruption, which are antithetical to sustainable development. In particular, money laundering impairs the development of institutions (democratic, financial, education, health, etc.)

Unfortunately, developing countries are disproportionately at risk due to poor capacity to deal with the problem. The last twenty years have witnessed increased efforts and collaboration to address the issues of money laundering and other forms of organized crimes that plague society. International initiatives in the form of AML/CFT frameworks have been designed. Most countries and jurisdictions have subscribed to these measures. An effective AML/CFT framework reinforces a variety of good governance policies that help to sustain economic development.

Given the immensity of issues involved, the stakeholders' base has been broadened to include non-traditional entities to ensure a holistic approach and complementaries in the fight.

Our hats off to you, Sylvester.

GIABA’s Mission

GIABA is an institution of the Economic Community of West African States (ECOWAS) responsible for facilitating the adoption and implementation of Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) in West Africa. It is also a FATF-Styled Regional Body (FSRB) working with its member States to ensure compliance with international AML/CFT standards.