Typologies and other Research Reports

SUMMARY OF COUNTRIES’ ACTIVITY REPORTS OCTOBER 2017 - SEPTEMBER 2018

This document provides an analytical summary of the annual Anti-Money Laundering and Countering the Financingof Terrorism (AML/CFT)reports submitted to the GIABA Secretariat by all its Member States. The statistics provided by countries relate mainly to money laundering and its predicate offences, with terrorist financing being only very marginally taken into account in the reports, as was the case in previous years. 

Know Your Customer/ Customer Due Diligence Measures and Financial Inclusion in West Africa

This report is the outcome of a study conducted directly by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), which commenced in September 2016. The study is a follow up to an earlier study on financial inclusion carried out in 2013. It was undertaken to understand and address the challenges of implementing the money laundering and terrorist financing (ML/TF) preventive measures of Know–Your-Customer (KYC)/Customer Due Diligence (CDD) with due regard to financial inclusion. On the basis of the findings of the study, recommendations have been made to assist the relevant authorities in GIABA member States to design effective KYC/CDD frameworks that promote financial inclusion, in compliance with the letter and spirit of the Financial Action Task Force (FATF) Recommendations and Assessment Methodology (as revised).

IFF from WA

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MONEY LAUNDERING RESULTING FROM THE COUNTERFEITING OF PHARMACEUTICALS IN WEST AFRICA

This study was aimed at understanding the nature and magnitude of the money- laundering phenomenon resulting from the counterfeiting of pharmaceuticals in West Africa. The methodology employed involved the selection of four countries (Côte d’Ivoire, Nigeria, Senegal and Togo) for the purpose of in-depth country level study, while the remaining countries responded to a questionnaire. From the country reports and the responses provided by the member States to the questionnaire and the case studies provided by law enforcement authorities, the linkage between Money Laundering (ML) and counterfeiting of pharmaceuticals was analysed. 

TERRORIST FINANCING IN WEST AND CENTRAL AFRICA

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NATIONAL RISK ASSESSMENT ON MONEY LAUNDERING AND TERRORIST FINANCING OF GHANA

In recent years the twin menace of Money Laundering and Terrorist Financing (ML/TF) have assumed alarming proportions putting at risk the global Financial Systems. Criminals over the years have concealed their illicit proceeds by investing in legitimate businesses through a number of schemes in the Bank Financial Institutions and Non-Bank Financial Institutions (FIs) and the Designated Non-Financial Businesses and Professions (DNFBPs).

THE VULNERABILITIES OF DESIGNATED NON-FINANCIAL BUSINESSES AND PROFESSIONS TO MONEY LAUNDERING AND TERRORIST FINANCING AND THE ADEQUACY OF CONTROL MEASURES IN WEST AFRICA

This report is the outcome of a research project initiated by the GIABA Secretariat and executed through an independent consultant. The production of the report would not have been possible without the assistance and contributions of numerous individuals and organizations, particularly national authorities and professionals working in various Designated Non-Financial Businesses and Professions (DNFBPs) within West Africa.

Strategic Review of GIABA First Round of Mutual Evaluations 2007-2012 Report

This report provides an independent audit of the First Round of GIABA’s Mutual Evaluation (ME) of its member States (MS). The ME exercise is undertaken to ascertain the extent to which the AML/CFT systems of MS comply with international standards, as embodied in the FATF Recommendations.

Terrorist Financing in West Africa

The Inter Governmental Action Group against Money Laundering in West Africa (GIABA) and the FATF collaborated on a typologies research project to identify the methods used by terrorists, terrorist groups, and their supporters in the West African region to collect, transfer and utilise funds.

The project team used data provided by experts based in five West African countries where there have been serious and frequent incidences of terrorism: Burkino Faso, Mali, Niger, Nigeria and Senegal.

The Nexus between Small Arms and Light Weapons and Money Laundering and Terrorist Financing in West Africa

This report presents the key findings of a study commissioned by GIABA to explore the relationship between illicit trade in small arms and light weapons (SALWs), on one hand, and money laundering (ML) and terrorist financing (TF), on the other hand, in west Africa. The last two decades has seen the centrality of illicit trade in SALWs to the deterioration of security and development in West Africa. While most of the deadly internal armed conflicts that erupted in the 1990s have been resolved, and a few more recent ones are being managed, the combination of corruption, violent organised crime, and terrorism has now risen sharply to undercut the region’s security and development.

Recognizing the debilitating effects of illicit trade in SALWs on the arduous efforts towards regional security, development and integration, the Economic Community for West African States (ECOWAS) has recently responded to the challenge with a number of counter-measures. Key among these counter-measures include the ECOWAS Moratorium on SALWs, the implementation of the Small Arms Control Programme, and the creation of National Commissions on Small Arms and Light Weapons in all member States.  Yet, in spite of these efforts, illicit SALW trafficking and proliferation continues apace in tandem with growing organized crime and terrorist activities.

As the institution of ECOWAS mandated to fight against money laundering and terrorist financing in West Africa, GIABA commissioned this study primarily to provide greater understanding of how illicit SALW trafficking is fuelling and is being sustained by ML/TF in the region. The report shows the typologies and prevalence of SALWs illicit trafficking, and reveals the emerging patterns of its relationship to ML/TF in all 15 member States of ECOWAS.

MONEY LAUNDERING RELATED TO FRAUD IN PUBLIC PROCUREMENT IN WEST AFRICA: A CASE STUDY OF NIGERIA

This report presents an analysis of public procurement fraud in Nigeria and how this crime feeds into money laundering in the country. Nigeria has one of the most dynamic political and economic systems in West Africa.

A REVIEW OF THE STATE OF IMPLEMENTATION OF ANTI-MONEY LAUNDERING MEASURES IN RELATION TO FINANCIAL INCLUSION IN GIABA MEMBER STATES

The FATF counter measures on money laundering and terrorist financing have been under scrutiny in the recent past as posing challenges to the financial inclusion drive. Mindful of the fact that majority of jurisdictions within its membership being emerging markets, developing countries, or low capacity countries, the FATF is making sure that these services are provided within the realm of some formal mechanism.The FATF counter measures on money laundering and terrorist financing have been under scrutiny in the recent past as posing challenges to the financial inclusion drive. Mindful of the fact that majority of jurisdictions within its membership being emerging markets, developing countries, or low capacity countries, the FATF is making sure that these services are provided within the realm of some formal mechanism.