Money Laundering in West Africa Sees Significant Reduction, Says GIABA
A significant reduction in money laundering in West Africa has been reported by Timothy Melaye, Ag. Head of Communication and Advocacy, Intergovernmental Action Group against Money Laundering, GIABA. Melaye made this known in an interview with the News Agency of Nigeria on Tuesday in Cotonou, Benin.
According to Melaye, the reduction in money laundering is largely attributed to the creation of awareness on the crime and terrorism financing. He noted that more people are now conversant with the crime, and this has led to a significant decrease in its prevalence.
Melaye explained that the awareness campaign has led to a greater understanding of the crime among the public, and this has resulted in a drastic reduction in money laundering and terrorism financing activities. He added that the awareness campaign has also led to a greater cooperation between law enforcement agencies and the public in the fight against money laundering.
GIABA has also put in place measures to prevent money laundering, including the creation of awareness among airport and seaport officials, as well as the public. Melaye noted that the group is committed to carrying out researches to inform law enforcement agencies of its activities and to identify trends in money laundering.
The researches conducted by GIABA have led to the identification of new ways in which criminals are operating, and the group is working to create new measures to combat these risks. Melaye noted that the group is committed to sharing its knowledge with all law enforcement agencies to help them understand the different ways in which money laundering is carried out.
In conclusion, Melaye emphasized that the reduction in money laundering in West Africa is a significant achievement, and GIABA will continue to work towards preventing the crime and combating its risks.
