GIABA strengthens youths’ AML/CFT knowledge through its 11th Open House.
The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) will organize the 11th Edition of its Open House on 23rd January 2019, at La Maison de la Presse –the Press House - in Dakar, Republic of Senegal. The event, which will focus on ‘The Role of the Youth in Preventing and Fighting Money Laundering and Terrorist Financing (AML/CFT),’ will bring together 300 participants, including students and officials from various universities, institutes, advanced schools, and vocational centres, representatives of the public and private sectors, as well as representatives of the civil society and the media.
In order to ensure efficient implementation of AML/CFT measures in member countries, GIABA has identified young people as an important segment in the fight against money laundering and corruption, since several reports have highlighted their high vulnerability to money laundering, terrorism financing and related crimes. As part of the activities included in the Institution’s information and awareness-raising programmes intended for the stakeholders, the Open House is aimed at popularising GIABA through its mission, mandate and activities; enhancing understanding of the stakes, as well as the national, regional and international AML/CFT approach ); mobilising and sensitising the youth against ML/TF and related crimes; and, lastly, utilising the capacity of the youths to carry out advocacy actions by disseminating AML/CFT messages among their peers and the policy makers.
In its 2016-2020 strategic plan, GIABA has identified a number of challenges it faces, including the lack of AML/CFT knowledge in some social strata, and the low capacity to prevent ML/TF activities for which risks have been identified and assessed. GIABA’s communication strategy also underscored the need to enhance the institutions’ effectiveness by raising stakeholders knowledge level, promoting the understanding of the related concepts, and supporting key AML/CFT actors.
Thus, the 11th edition will deal with several ML/TF topics and its consequences on the socio-economic development of ECOWAS member States, as well as the role and achievements of GIABA in AML/CFT in West Africa. The presentations will also address financial crimes among youths, the strength and contribution of youths to the fight against money laundering in West Africa.
The expected outcome of the Open House day will be an alliance of young people who are organised and strongly sensitised on AML/CFT measures, a bigger proportion of young people who are well aware of the consequences of ML/TF and committed for the dissemination of AML/CFT related messages among their peers, as well as closer collaboration with other stakeholders in the search for sustainable solutions regarding the involvement of vulnerable groups in economic and financial crimes in West Africa.