Financial Crime World

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Niger Steps Up Efforts Against Money Laundering and Terrorist Financing

Niamey, Niger - In a significant move to strengthen its fight against money laundering and terrorist financing, Niger has launched a series of initiatives aimed at enhancing its anti-money laundering and counter-terrorist financing (AML/CFT) efforts.

Strengthening National Efforts

According to sources, the country’s national authorities are playing an active role in ensuring the effective control of corruption and related offenses. This is evident in the establishment of the Haute Autorité de Lutte contre la Corruption et les Infractions Assimilées (HALCIA), which has led to:

  • Interrogation and detention hearings of several high-profile individuals accused of smuggling goods
  • A hotline for citizens to report cases of corruption
  • Eight complaints lodged with Parliament to lift the parliamentary immunity of MPs facing corruption charges

National Cooperation

Niger has revived its National Counter Terrorism Committee at the Ministry of Foreign Affairs, which will serve as an exchange forum on operational aspects of counter-terrorism.

AML/CFT Efforts

Niger’s CFT law is compliant with the WAEMU Community law. The country’s Financial Intelligence Unit (FIU) now enjoys better working conditions, with more resources and equipment to process Suspicious Transaction Reports (STRs). The FIU has also:

  • Signed agreements with other FIUs in Ghana and Gabon
  • Embarked on study tours to learn best practices from foreign FIUs
  • Organized working sessions with technical and financial partners in Niger to seek technical assistance

National Coordination Committee

Niger’s Justice Minister officially inaugurated the AML/CFT National Coordination Committee, which will oversee the implementation of the country’s AML/CFT strategy. The committee has approved Niger’s AML/CFT Country Strategy Paper and is now in the process of being adopted by public authorities.

Technical Assistance

Technical assistance from GIABA (West African Financial Action Task Force) is also being provided to support Niger’s AML/CFT efforts.

Conclusion

Niger’s new impetus in anti-money laundering and counter-terrorist financing efforts is a significant step towards strengthening its position against organized crime and terrorism. With the country’s porous borders making it vulnerable to weapons and drug trafficking, it is crucial that all social groups work together to tackle these challenges effectively.