General News

Breaking News

Effective Anti-Money Laundering System emphasized

By Arthur Douglas
Justice Minister, Christiana Tah
Justice Minister, Christiana Tah

( Minister, Christiana Tah, says effective anti-money laundering and counter terrorist financing system in Liberia is very important for protecting the country’s economy.

Minister Tah also said: “The system is equally important for reestablishing the rule of law in Liberia.”

She expressed satisfaction over the passage of the anti-money laundering laws adding: “It will empower various actors in the criminal justice system to mitigate transactions in illegal monies.”

Speaking at the two-day sensitization workshop, Cllr. Tah commended organizers and urged them to offer participants some specialized training.

The workshop is intended to ensuring effective implementation of the     anti-money laundering laws.
For his part, the Anti-Money Laundering and Counter

terrorist Financing National Coordinator, Gabriel Bellepea, said: “The training will enable key stakeholders fully understand the laws and their respective responsibilities.”

Meanwhile, the Economic Community of West African States (ECOWAS) Inter-governmental Action Group against Money Laundering and Terrorist Financing (GIABA) commended government for progress made.

The group, however, stressed the need for moremeasures in meeting international standards.

In a statement, on behalf of GIABA’s Director General, Dr. Abdullahi Shehu, Gina Wood urged Liberia to set up a financial intelligence unit and institute code of conduct to guide the operations of law enforcement agencies.

The two-day training brought together trial judges, law enforcement agencies, banking and insurance institutions, foreign exchange bureau, casinos, among others.


Copyright 2012 All Rights Reserved.