Press Release

GIABA ADVOCACY TO LIBERIA ENDS WITH HUGE PLEDGES TO STRENGTHEN ANTI-MONEY LAUNDERING AND COUNTERING THE FINANCING OF TERRORISM (AML/CFT) REGIME

President of the Republic of Liberia, His Excellency President Joseph BOAKAI and Director General of GIABA, Mr. Edwin HARRIS Jr. during a high-level advocacy visit to the President and key stakeholders in Liberia’s AML/CFT regime from Monday August 11 to Wednesday August 13, 2025

AUTHORITIES IN LIBERIA have pledged to strengthen actions against money laundering and terrorist financing (ML/TF) in the country. The pledge is coming at the end of a three-day high-level advocacy visit to key stakeholders in the country by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), led by its Director General, Mr. Edwin W. HARRIS, Jnr.

In separate meetings with the President of the Republic of Liberia, His Excellency, President Joseph BOAKAI; the Governor of the Central Bank of Liberia, Mr. Henry F. Saamoi; the Hon. Attorney-General and Minister of Justice, represented by Cllr Cora Hare Konuwa, Deputy Minister for Codification; the National Security Advisor, Mr. Samuel Kofi Woods; management team of the Liberia Anti-Corruption Commission, and members of the Joint Public Accounts Expenditure and Audit Committee of the Liberian Legislature, the sentiment that the country was geared up to take all necessary steps to ensure that it complies with all relevant anti-money laundering standards was palpable.

GIABA commended the country for its high-level commitment and the several reforms implemented to address some of the identified strategic deficiencies in Liberia’s AML/CFT/CPF system, including the enactment of the Control Drug and Substance Act, 2023; adoption of the beneficial ownership regulation; adoption of the national AML/CFT Action Plan (2024-2028); and the establishment of the Office of Asset Recovery.  

Discussions on the country’s 3rd round of evaluation focused on the need for early and adequate preparations, including implementation of necessary reforms to address outstanding strategic deficiencies and align with recent changes to FATF standards, enhancement of domestic cooperation, adequate resourcing of critical institutions and improvements in ML/TF investigation, prosecutions and conviction, as well as recovery of criminal proceeds. The team also encouraged Liberia to seek re-rating to improve its technical compliance performance. In addition, the team solicited the full support of the political authorities for the country’s 3rd round assessment scheduled for 2031, and the 44th GIABA Technical Commission /Plenary meeting planned for November 17-21, 2025, in Monrovia, Liberia. The DG assured the authorities of GIABA’s continued support in strengthening the capacity of the country to enhance the implementation of its AML/CFT/CPF regime. 

The Liberian authorities took note of the outstanding strategic deficiencies in their AML/CFT/CPF system and committed to addressing them, including by establishing Financial Crimes Court, and adequately resourcing relevant institutions. The country also committed to preparing adequately for its 3rd round evaluation in order to achieve better performances. In addition, the authorities welcome the hosting of the 44th GIABA Technical Commission /Plenary meeting in Liberia and pledged to fully support the organisation of the event.   

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