FATF and GIABA convene Joint Experts’ Meeting in Accra to strengthen regional and global fight against money laundering, terrorism financing, and financial crimes

A Joint Experts’ Meeting (JEM) organised by the Financial Action Task Force (FATF) and the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has opened in Accra, highlighting the urgent need for intensified efforts against illicit financial activities worldwide.

Mr Edwin W. Harris Jr., Director-General of GIABA, emphasised that West Africa faces growing risks as economies become more interconnected and financial systems increasingly sophisticated. Criminal networks, he noted, exploit regulatory gaps, complex corporate structures, and digital channels to move illicit funds across borders, undermining domestic resource mobilisation and public trust in institutions.

Mr Harris urged GIABA member states to strengthen Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) frameworks, noting that sustained compliance requires vigilance, adaptability, and shared resolve. The three-day meeting focuses on Trade-Based Financial Crime (TBFC) and Terrorism Financing (TF), providing a forum for cross-border collaboration and actionable insights.

Highlighting progress, Mr Harris noted the completion of the second round of mutual evaluations, advances in typology studies, and strengthened national coordination mechanisms. However, he stressed that threats are evolving, requiring agile and evidence-based responses. The JEM, he said, serves as a catalyst to inform GIABA’s regional projects and FATF initiatives on TF, including guidance for digital financial ecosystems and cross-border cooperation.

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The event, supported by the Government of Ghana, brings together around 250 delegates, including law enforcement officials, customs officers, financial intelligence units, international organisations, and private sector stakeholders, providing a platform to share strategies and best practices in combating ML/TF/Proliferation Financing (PF).

Ms Elisa de Anda Madrazo, FATF President, highlighted the historic nature of hosting the JEM in West Africa, commending Ghana’s leadership and commitment to combating financial crimes. She stressed the importance of knowledge sharing, partnership building, and the critical role of financial intelligence units, law enforcement, and customs authorities in tracing, investigating, and recovering stolen assets under FATF guidance.

Ms Madrazo reaffirmed FATF’s dedication to supporting West Africa in strengthening AML/CFT frameworks and ensuring the Global Network remains cohesive and effective in tackling evolving financial threats.