The Financial Intelligence Unit (FIU) of Liberia has climaxed a one day training session on Anti-Money Laundering and Countering the Financing of Terrorism for journalists highlighting the role of the media in detecting money laundering in the country.
Speaking during the training session held at the Charles Gbeyon Press hall of the Ministry of Information, Cultural Affairs and Tourism over the weekend, the Chief Executive officer of FIU, Alex Cuffy, noted that the decision to educate the media against the crime is that it also serves as a watch dog. CEO Alex Cuffy said strengthening the capacity of media professionals in the fight against money laundering and terrorist financing is backed by the fact that the media is at the forefront of providing information and education about the effect of the crime on the country’s economy. He pointed out that the training is designed to build strong link with the media for effective dissemination of AML/CFT message and to improve the implementation of an effective AML regime in Liberia. The primary objective of the training is to help detect and deter money laundering and terrorist financing activities and the investigating of people who are found in the act. Naming some of the offenses linked to the crime, Mr. Cuffy said 15.2 Section 1 of the Anti-money Laundering and Terrorist Financing Act, 2012 provides that “a person or body corporate or other legal entity commits the offense of money laundering if that person knowing or having reason to believe that property is the proceeds of crime; converts or transfers the property with the intent of concealing or disguising the illicit origin of that property, or of aiding any person involved in the commission of the criminal conduct to evade the legal consequences of the conduct”. The FIU is an autonomous agency of the Government of Liberia (GOL) created by an Act of National Legislation as the Central Unit for receiving requests, conducting preliminary investigation, analyzing and disseminating information to competent authority concerning suspected proceeds of crime and terrorist property. The FUI has a vision to build a well-equipped unit dedicated to an effective anti-money laundering and combating financing of terrorism regime in Liberia. It also seeks to protect Liberia’s financial system from abuse of financial and economic crime for the enhancement of national, regional and global peace and economic stability.