MONEY LAUNDERING/TERRORIST FINANCING AND THE SMUGGLING OF GOODS IN WEST AFRICA
This study was conducted by GIABA in order to explore the linkages of money laundering and terrorist financing (ML/TF) to the smuggling of good in West Africa. Goods smuggling is known to be a lucratively rampant criminal activity across the region that has defied law enforcement efforts over the past decades. However, while it is generally accepted that goods smuggling has become a serious transnational organised crime in the region, there has been no concern about the illic financial proceeds that flow from the activity. This study was embarked upon to focus on such illicit proceeds and to explore the risks of ML/TF associated with the criminal activity. Hence, the study is not a regular typologies exercise, which typically builds on existing cases of ML/TF to establish trends and methods. In undertaking this study, data was collected from all 15 member States of GIABA. Questionnaires were administered and interviews held during visits to the countries by the GIABA research team.
August 2020