We are fully ready to Host GIABA in Freetown – FIU Director
The Executive Director of Financial Intelligence Unit (FIU), Mr. Ahmed Kamara has disclosed that they will be hosting the Marine time conference on Money Laundering under GIABA from 24th to 26th October 2018 at the Radisson Blu Hostel, Aberdeen in Freetown.
According to Director Kamara, the Unit core values are Integrity, professionalism and respect for Diversity which means, FIU performs three traditional core functions which includes, monitoring & analysis, compliance & prevention and informational cooperation & data exchange nothing that Sierra Leone is a member of the GIABA and this evaluation was conducted by World Bank.
He said they need to sensitize the public very well so that they can combat money laundering within adding that the objectives of this conference is to strengthen the technical capacity of law enforcement officials focusing on the existence and relevance of financial and trade data to crime targeting and techniques for conducting such analysis.
“We want to deepened the understanding of participants on the concept, approach and methodology for effective investigation of maritime piracy and trade based money laundering (TBML) and supervision”, Director noted.
He maintained that improving the capacity of law enforcement officials in enforcing AML/CFT regulations established by the FATF and other international standard setters and raising a pool of law enforcement officials in member states capable of analyzing the relevant tools in identifying TBML and investigation of maritime piracy. The Director, commenting on the recently arrested monies at the Lungi Airport, said the investigation is still ongoing and they don’t think it has anything to do with money laundering.
“What we intend to do is to sensitize the public that when travelling with cash more than $10,000 they must understand that they must declare it whether going out or coming into the country. He said ,when someone fails to declare such amount it raises suspicion and will interest all the institutions working under finance as to know why such money is being moved without declaration”, Mr. Kamara noted.
He said they have been making positive strides and progress to inform and educate the public on financial regulations and that they will not relent until they curb the act that is destroying West Africa.”After this conference, we will also organize our own next month to do evaluation in the institution and to chart the way forward on how we can work with other institutions and the media to make sure the people understand the concept of money laundering and its effect.
By Alhassan Bangura
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