President Julius Maada Bio of Sierra Leone has urged the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) to address new and evolving threats in combating money laundering and terrorism financing. Speaking at GIABA’s 42nd Technical Commission and Plenary Session in Freetown, he emphasized the need for actionable strategies to enhance regional efforts against financial crimes.
The session, held at the New Brookfields Hotel, brought together around 200 delegates from 17 countries to review the Mutual Evaluation Report for São Tomé and Príncipe and discuss financial crime challenges across West Africa.
In his address, President Bio highlighted progress in Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) measures while urging member states to implement robust national strategies. He stressed the importance of strengthening laws, enhancing information-sharing, and investing in training and technology to counter increasingly sophisticated criminal networks.
David Borbor, Director General of Sierra Leone’s Financial Intelligence Agency, underscored the importance of regional collaboration, while Finance Minister Sheku Fantamadi Bangura praised the enactment of the country’s Anti-Money Laundering Act. GIABA Director General Edwin B. Harris called for greater resource allocation to Financial Intelligence Units and announced the launch of a 3rd round of mutual evaluations in 2025.
The session concluded with a call for innovation and cooperation to ensure practical outcomes in the fight against financial crimes across the region.
