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Regional anti money laundering body to meet EU in Banjul


Press release: The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) and the European Union (EU), will hold the 6th Meeting of the Steering Committee of the «Strengthening Anti-Money Laundering Capacities in West Africa (SAMWA)» project in Banjul, The Gambia, on 14th November 2018.

The key objective of this meeting, which will be organized in tandem with the 30th GIABA Technical Commission/Plenary Meeting, is to provide stakeholders with an update on the implementation of the project and agree on the work plan for the coming months.

Titled, SAMWA-24594/366 844 (CRIS 24594), the Project has the objectives to: build the capacity of competent authorities to enable them effectively engage in the fight against money laundering; and encourage harmonized and coordinated approaches against this scourge.

Specifically, the project seeks to promote the implementation of Anti-Money Laundering and Counter the Financing of Terrorism (AML/CFT) regimes in West Africa and support Financial Intelligence Units (FIUs) of member States become members of the Egmont Group.

The SAMWA Project was designed to intervene in three key areas, namely: strengthening the capacities of FIUs and reporting entities; strengthening the capacities of Law Enforcement Agencies and the Judiciary; raising the awareness of the general public and enhancing political commitment to the fight against money laundering.

It was in 2010, under the Indicative Regional Programme of its 10th EDF for West Africa, that the EU approved a financial assistance package of three million Euros for the SAMWA Project. GIABA provided matching funds amounting to FCFA 393 million.

The Project Financing Agreement was signed in November 2014 for implementation within a period of three years (2015-2018), and jointly launched by GIABA and the EU on 25th November, 2016.

In retrospect, the Steering Committee is the Project’s decision-making body and its membership comprises the regional authorizing officer represented by GIABA, one representative from the ECOWAS Commission, one representative from each of the fifteen (15) ECOWAS member States, one representative from the EU, one EU Liaison officer, and one representative from Civil Society Organizations.

GIABA is holding its 30th Technical Commission/Plenary Meeting in Banjul from 11th to 16th November 2018, and its 19th Ministerial Committee Meeting on 17th November 2018, respectively.

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