Media Remains A Veritable Channel Of Increasing Awareness Among The Populace GIABADirector General

Director-General Of the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), Mr Edwin W. Harris Jr. says media remains a veritable channel of increasing awareness among the populace.

According to Mr. Harris Jr., GIABA has been working and building partnerships with different media groups and individual journalists to bring to public awareness the negative consequences of money laundering and terrorist financing (ML/TF). 

He said this at the opening ceremony of Regional Training on Investigative Reporting on Economic and Financial Crimes for Journalists organized by GIABA from 12th to 14th August in Benin, Cotonou.

He indicated that “this training is another effort to establish and sustain further partnerships with media practitioners across the region” and urged the media  to become ambassadors of anti-money laundering and countering the financing of terrorism (AML/CFT)”.

“Since 2009, GIABA has engaged the media through sensitization programs to facilitate their understanding of AML/CFT issues. A significant outcome of the programme is forming a Regional Network of Journalists involved in reporting economic and financial crimes. The network is a platform for information sharing and dissemination on the essence of implementing robust AML/CFT measures by GIABA member States.”

He also established that GIABA is a specialized institution of ECOWAS as well as a FATF-style Regional Body (FSRB) for West Africa. 

Established in 2000 by the ECOWAS Authority of Heads of State and Government, GIABA has the mandate to protect the economies of member States from laundering of proceeds of crimes and to combat terrorism financing (TF) and Proliferation Financing (PF). 

To this end, GIABA works to ensure that member States comply with acceptable International Standards on Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). 

As an FSRB, GIABA undertakes mutual evaluations, a peer review mechanism, for assessing the level of technical compliance and effectiveness of member States’ AML/CFT systems with International Standards. 

GIABA also conducts valuable research and typology exercises to identify the various Money Laundering and Terrorist Financing trends and methods to strengthen preventive and enforcement efforts.

He shared with the media some of the components of GIABA’s core mandate. 

This includes:

Oslash;  Ensuring the implementation of AML/CFT standards, in compliance with acceptable International Standards and practices, including the FATF 40 Recommendations;

Oslash;  Promoting the implementation of AML/CFT measures by member States, while taking into account regional peculiarities and environment;

Oslash;  Acting as a forum where members can discuss regional issues and share their experience;

Oslash;  Organising self and mutual evaluations to measure the effectiveness of the measures taken as well as their technical compliance with acceptable International Standards;

Oslash;  Conducting researches on trends and methods with far-reaching outcomes and recommendations to address the menace of ML/TF

Oslash;  Coordinating and supporting member States in the implementation of AML/CFT systems and legislations regarding the proceeds of crime through mutual legal assistance; and

Oslash;  Assisting member States in establishing and sustaining Financial Intelligence Units (FIUs).

“You will agree with me that this is an onerous task. However, I am glad to confidently say that GIABA has risen to the test through various high-impact capacity-building programmes, technical assistance to various institutions of member States, sustained partnership with the international community, and far-reaching advocacies and sensitization programmes to a wide range of stakeholders”, he added.

The workshop therefore served the participants:

bull;          To bring together a broad section of the media from across the region under one group to identify and track down money laundering and terrorism financing within and outside the country.

bull;          Equip the journalists with the right tool to cover, report, and investigate money laundering and other financial crimes in the best way that would help to stem the tide in the region.

bull;          Equip journalists with the essential information to educate others in their respective organizations, region, cities, and towns.

He urged the participant to relax, concentrate and take up the task ahead by taking the action points from the training and pledge to contribute their quota as the Fourth Estate of the Realm in building a better society.

Josephine Acheampomaa/[email#160;protected]