GIABA, EGMONT GROUP TO HOLD STRATEGIC ANALYSIS COURSE FOR FINANCIAL INTELLIGENCE UNITS
The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), in conjunction with the Egmont Group, will hold a Regional Strategic Analysis Course for Financial Intelligence Units at the Palm Beach Hotel, Saly, Senegal, from January 15 to 19, 2018.
The objectives of the programme include building the capacity of member FIUs to develop qualitative strategic products that would facilitate the detection of money laundering and terrorist financing (ML/TF) related threats and vulnerabilities, as well as help FIUs and other entities within the AML/CFT regime prioritise their operations; exposing participants to current analytical techniques and best practices in strategic analysis; and supporting member FIUs to meet international requirements with respect to strategic analysis.
Under its revised standards, the Financial Action Task Force (FATF) laid emphasis on the need for FIUs to carry out both operational and strategic analysis, particularly in the Interpretative Note to Recommendation 29 (Financial Intelligence Units). The FIUs Status Report of GIABA member States, adopted during the regional FIU Forum meeting in May 2013, indicated that while all the FIUs could carry out operational analysis, majority of the member States FIUs lack capacity to undertake Strategic analysis. To address this and help the affected FIUs meet international standards, the report recommended that GIABA should enhance its technical assistance and support member States’ FIUs to conduct strategic analysis.
The Regional Strategic Analysis Course is, therefore, organized to, among other things, strengthen the capacities of member FIUs in the area of strategic analysis and in developing quality strategic products. The achievement of these objectives will ultimately enhance implementation of AML/CFT regimes in member States as well as assist GIABA realize its broad objectives.
A total of thirty-two (32) financial analysts responsible for analysis in member FIUs are expected to attend the programme. The broad themes to cover at the course include: Concept of Strategic Analysis; Intelligence Cycle and Strategic Analysis; Strategic Intelligence Products; Assessment of Risk and Prioritization; and Strategic Analysis Process. The course will be delivered by international and regional experts, through presentations, experience sharing and group simulation exercises.
The programme is expected to facilitate the determination of ML/TF patterns and trends that would enable member States formulate policies that will enhance effective implementation of AML/CFT regime and take proactive measures to prevent ML/TF.