Compliance Training for Financial Professionals in Congo, Democratic Republic of
In a significant move aimed at strengthening the country’s financial sector, compliance training has been provided to over 500 government officials and private sector representatives in the Democratic Republic of Congo (DRC).
AML/CFT and Anti-Corruption Best Practices
The training focused on Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) and anti-corruption best practices. This comprehensive training aimed to enhance the investigative and financial audit capabilities of government officials and private sector representatives, enabling them to combat money laundering, financial crimes, and corruption effectively.
Methodologies, Guidelines, Policies, and Tools
As a notable achievement, 12 methodologies, guidelines, policies, and tools were developed to support government institutions’ efforts to combat money laundering, financial crimes, and corruption. These include:
- Functional assessments of the Centre for Research on Economic and Financial Studies (CENAREF) and the Anti-Corruption Public Prosecutor’s Office (APLC)
- An AML/CFT action plan
- Operational procedures manual for CENAREF
- Security manual for CENAREF
- Conflict of interest and confidentiality policy for APLC
- Whistleblower and witness protection policy for APLC
Private Sector Training
In addition, over 30 private sector representatives from all commercial banks in the DRC received training on AML/CFT and anti-corruption best practices. This training aimed to enhance their knowledge and skills in identifying suspicious financial activity and building a case.
Capacity Building
Capacity building was also carried out for CENAREF analysts, focusing on:
- AML/CFT international standards
- Operational best practices
- Data security
- Targeted training sessions to equip staff with key principles in these areas
Inter-Agency Coordination and Information Sharing
High-level roundtables were facilitated with institutions of the Government of the Democratic Republic of Congo (GDRC) in Kinshasa and other cities, aiming to promote inter-agency coordination on AML/CFT and anti-corruption initiatives. The project also facilitated information sharing and coordination with domestic counterparts and foreign Financial Intelligence Units by providing Memorandum of Understanding (MOU) templates to CENAREF.
Strengthening International Cooperation
These efforts aim to strengthen international cooperation in combating financial crimes and corruption, ultimately contributing to the stability and growth of the DRC’s financial sector.