Regional Training Workshop On The New FATF Methodology For Mutual Evaluation Assessors, Accra

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), in collaboration with the Financial Action Task Force (FATF), will organise a Regional Training Workshop on the New FATF Methodology for Mutual Evaluation Assessors. The Workshop will be held at the Holiday Inn Airport Hotel, Accra, Ghana from Monday, March 20, to Friday, March 24, 2017.

The training is targeted at AML/CFT stakeholders drawn from relevant competent authorities: financial intelligence units, regulatory agencies, central banks and law enforcement agencies; in line with the FATF recommended composition of an Assessment Team, comprising the Financial, Legal and Law Enforcement/Operational sectors from the sixteen (16) GIABA member States.

Officials from FATF and the Action Group against Money Laundering in Central Africa (GABAC) member States will also participate in the Workshop. The training will be delivered by a team of experts and practitioners from the FATF and GIABA Secretariats through presentations, experience sharing and group simulation exercises.

A key aspect of GIABA’s mandate is to conduct Mutual Evaluation exercises in GIABA member States to determine the technical compliance with acceptable international standards against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction, particularly the FATF Recommendations and the efficacy of measures adopted by member States to prevent the criminal abuse of their financial systems.

The Mutual Evaluation exercise is based on the FATF Recommendations which set out a comprehensive and consistent framework of measures countries should implement in order to effectively combat money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction. The process is guided by the Methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT systems, which provides the basis for an integrated analysis of the extent to which a country is compliant with the FATF Standards and the level of effectiveness of its AML/CFT system, as well as the GIABA Mutual Evaluation Process and Procedures.

The mutual evaluation process enables GIABA and its development partners to determine the type of technical assistance required by member States for improving measures against money laundering and terrorist financing. It is of immense benefit to the assessed country as it provides information to the international community about the integrity and soundness of the country’s financial, governance and legal frameworks, and therefore creates a platform for the inflow of foreign direct investment.

The training workshop, which is part of the preparation towards GIABA’s Second Round of Mutual Evaluation of GIABA member States, is designed to build the capacities of participants to enable them to conduct mutual evaluations of member States in accordance with the FATF Standards, using the new FATF Methodology for assessing technical compliance with the FATF Recommendations and the effectiveness of AML/CFT systems. The participation of the FATF in the training workshop is to ensure a consistency of training standard across the Global AML/CFT Network to enhance the quality of potential mutual evaluation assessors.

It is expected that the training would provide the GIABA with a pool of efficient and effective assessors for the GIABA Second Round of Mutual Evaluation; increase the number of trained assessors in GIABA member States; improve the quality of on-site mutual evaluation assessments; and ensure the production of objective and accurate mutual evaluation reports of high standard in a timely manner.

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