GIABA HOLDS ITS 38th TECHNICAL COMMISSION/PLENARY MEETING IN SALY-PORTUDAL
The Intergovernmental Action Group against Money Laundering in West Africa (GIABA) will be organizing, in a hybrid format, its 38th Technical Commission/Plenary meeting in Saly- Portudal, Republic of Senegal, from 27th to 30th November 2022.
Convening twice a year, this meeting is designed to promote discussions among technicians from Member States (MS) on the threats and challenges relating to Anti-money laundering and Counter Financing of Terrorism (AML/CFT) in the sub-region. It provides an opportunity for participants to share their experiences with a view to reaching consensual positions on all AML/CFT issues. It also provides an opportunity for Member States to address issues requiring a concerted and harmonized approach in the effective implementation of AML/CFT measures. Finally, as a platform, the GIABA Plenary creates an opportunity to establish partnerships among experts, representatives of Member States, technical partners and observers in AML/CFT.
In Saly, the Evaluation and Compliance Group (ECG) experts meeting will consider Nigeria's first Follow-up report. The Mutual Evaluation (ME), which is the key mandate of any FATF-Style Regional Body (FSRB), is one of the pillars of GIABA's AML/CFT strategic framework. This is a process where members agree in advance to subject themselves to peer review to confirm they are complying with international standards. The assessment methodology used is that of the FATF, which is based on the Recommendations of the international institution and on other international instruments.
During the Saly meeting, the meeting of the Risks, Trends and Methods Groups (RTMG) and the Policy Review Group (PRG) will consider the typologies/research reports on ML/TF in relation to cybercrime in Member States as well as that on ML/TF and illicit financial flows associated with maritime crime in the Gulf of Guinea. A typology report represents a contextualization of a universal theme from a typically African perspective, providing an opportunity to raise awareness among partners, to keep them abreast with the operating methods relating to money laundering, and suggest ways and means of combating these phenomena.
At the Saly meeting, there will also be discussions around risk monitoring, policy briefing, presentation of the technical assistance portal and GIABA's 2023-2025 Work Plan; a sharing session with the FATF in preparation for the next round of mutual evaluation; a closed-door session of the Forum of Financial Intelligence Units (FFIUs); a Summary of the Director General’s Activity Report; the presentation and adoption of the 2023-2027 Strategic Action Plan, are also crucial items on this 38th Plenary meeting agenda. The official opening ceremony, scheduled for Tuesday, 29th November 2022, will be presided over by Hon. Amadou Moustapha Bâ, Minister of Finance and Budget of the Republic of Senegal.