West African meeting to focus on TBML and maritime piracy

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is holding a regional conference called Combating Money Laundering in the Maritime Sector in Freetown, Sierra Leone, from 24-26 October 2018.

Organisers say the conference programme is focused on effective investigation of maritime piracy and trade-based money laundering (TBML).

Aims and objectives

The objectives of the programme include developing a pool of law enforcement officials in member states capable of using the tools needed to identify TBML and investigate maritime piracy.

The programme also aims at strengthening the technical capacity of law enforcement officials focusing on financial and trade data to target crime.

Another objective is to improve the capacity of law enforcement officials in enforcing anti money laundering and counter financing of terrorism regulations established by the Financial Action Task Force and other international standard setters.

Expected outcomes

Participants expected at the conference include employees from investigative authorities, customs and tax administrators, port and maritime authorities, private sector firms operating in ports, financial intelligence units of member states and managers of commercial banks.

The organisers anticipate the outcomes of the programme will include improved money laundering analysis, higher levels of compliance and lower levels of vulnerability in the maritime sector to money laundering and terrorist financing.



Categories: Trade Based Financial crimes News