Anti-laundering body set up in Dakar

Dakar- Senegal (PANA) -- Senegal has been designated to host the International Group Against Money Laundering in West Africa, or GIABA, which was officially launched Wednesday in Dakar.
Mamadou Lamine Fofana, a Senegalese magistrate, is the co- ordinator of GIABA.
The decision to provide the sub-region with GIABA was made by the 22nd session of the conference of ECOWAS' heads of state and government held in December in Lome, Togo.
GIABA aims at protecting the bank and finance houses against money laundering, and at strengthening regional co- operation in the fight against the practice.
One of GIABA's first tasks is send to the member states its recommendations for implementing a plan of action against money laundering in the region as adopted by the UN in 1998, as well as the execution of proposals of the Financial Group of Action Against Capital Laundering (GAFI) and international conventions and treaties dealing with the malpractice.
GIABA is expected to foster co-operation between member states and other similar bodies in the world such as GAFI and the world anti-laundering programme of the UN International Drug Control Programme.

25 july 2001 22:05:00




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