By Bill W. Cooper
The Financial Intelligence Agency (FIA) has kicked off a five-day capacity-building workshop focused on Combating the Financing of Terrorism (CFT) in Liberia and the West African sub-region at large.
With support from the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), the workshop which started yesterday, September 23, 2024, to Sep. 27, 2024, also aim to bolster Liberia’s defenses against the growing threat of terrorist financing.
The event, held at the Colony Hotel in Congo Town, further brought together key stakeholders from the security and financial sectors to enhance their understanding and capabilities in identifying and combating terrorist financing activities.
The workshop is however part of a broader initiative aimed at strengthening the country’s financial systems and security frameworks in line with international standards and best practices.
In his opening remarks, FIA Director, Muhammed Nasser, stressed the need for enhanced training and collaboration among various sectors amidst the increasing complexity of financial crimes and the evolving tactics employed by terrorist organizations.
According to him, the five-day workshop will cover wide range of topics, including the legal framework for combating terrorist financing, risk assessment methodologies, and the role of financial institutions in detecting and reporting suspicious transactions.
The FIA Boss further narrated that during the workshop, participants will engage in interactive sessions, case studies, and group discussions aimed at fostering collaboration and knowledge sharing.
He has at the same time, revealed that the five-day CFT capacity-building workshop represents a critical step in Liberia’s ongoing efforts to strengthen its defenses against terrorist financing.
By equipping government security and financial sectors’ personnel with the necessary knowledge and skills, Nasser added that the country is taking proactive measures to safeguard its national security and promote stability in the region.
He further reiterated the government’s commitment through the FIA to working closely with GIABA including other member states and all stakeholders in the fight against terrorist financing in Liberia and the West African Sub-region.
GIABA, is a specialized institution of the Economic Community of West African States (ECOWAS) that has been instrumental in providing technical assistance and capacity-building initiatives to member states in the region.
During his opening remark, GIABA Director, Edwin Harris, underscored the significance of the workshop in enhancing Liberia’s ability to combat terrorist financing, and added that the commitment of the FIA, GIABA, and all participants reflects a shared understanding of the challenges ahead and determination to confront them head-on.
“GIABA is committed to supporting member states in their efforts to strengthen their financial systems and combat money laundering and terrorist financing. This workshop is a crucial step in building the capacity of Liberia’s institutions to effectively address these challenges,” he asserted.
Mr. Harris added, “Together, we can build a stronger, more secured community. It is our collective responsibility to protect our region from the threats posed by terrorism and to ensure that the region financial systems are not exploited for nefarious purposes.”
Meanwhile, Justice Minister, Oswald Tweh, in his goodwill message to the gathering emphasized the importance of a coordinated approach in the fight against terrorist financing.
He warned that Terrorist financing is a global challenge that requires a unified response and as such, it is imperative that member states security and financial institutions are equipped with the necessary tools and knowledge to effectively combat the menace.
Minister Tweh has meanwhile, highlighted the role of the government through the FIA in monitoring and analyzing financial transactions to detect suspicious activities that may be linked to terrorism.
This, he added, that with the right tools, collaboration, and capacity, Liberia can enhance its resilience against the threats posed by terrorism and ensure a safer future for its citizens and neighboring countries.
