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Financial Intelligence Unit on 25th July, 2022 commenced five days stakeholders engagement workshop on anti-money laundering and combating financing terrorism.
In his statement the Director of Financial Intelligence Unit (FIU) David N Bobor said, the workshop is to clearly identify the risk and vulnerability within the system that will enable them put appropriate mitigating measures in combating money laundering and terrorist financing as the last risk assessment was done in 2017.
According to him recommendation on Sierra Leone is fairly compliant ,adding that they are also going to update the assessment they did in 2017 and to close the gaps that were identified and effectiveness of outcome one.
Also in this engagement workshop they are going to look at other areas that were not covered such as the use virtual assets and the new emerging trends.
At the end of this stakeholders engagement they want to enhance their robustness on anti-money laundering and terrorist financing in Sierra Leone. The workshop is supported by Inter-Governmental Action Group Money Laundering in West Africa.
The Chairperson of the occasion Retired AIG Morie Lengor commended the FIU for its relentless effort in combating money laundering and terrorist financing, adding that risk assessment is valuable in combating money laundering and terrorist financing therefore this workshop is timely and important for the country . He emphasized that risk assessment must be predicated on credible data and national risk assessment is a comprehensive document that entails everything pertaining to money laundering and terrorist financing . He encouraged the participants to make their valuable contributions during the technical sessions that will be presented by expert.
World Bank Country Manager Abdu Muwonge noted that they are very committed in supporting and combating money laundering and terrorist financing more especially the new emerging trends with numerous financial transactions with the use of mobile money, cryptocurrency.
“But if the measures are put in place they will prevent criminality therefore FIU is working in that direction”. “Collaboration is very necessary and important therefore organizing this stakeholders engagement workshop is a step in the right direction as fighting money laundering and terrorist financing should not be the work FIU alone it requires collaborative efforts”, he said.
Deputy Minister of Finance 1 Sheku Ahmed Fantamadi Bangura also commended the FIU in its effort on anti-money laundering and terrorist financing as they have been integral. He registered the government unwavering support to weed out menace in our financial system. Government would like to see the outcome of this workshop to use it for policy making efforts that will be beneficial to everyone. He also encouraged the participants to make their valuable contributions during the technical deliberation as this issue is not the work of government alone but everybody is matter in this “if we succeed the praise will go to all of us”.
