Financial Crime World

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Equatorial Guinea Strengthens Anti-Money Laundering Training Programs with International Partnership

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Strengthening Implementation of International Standards against Money Laundering and Terrorist Financing

The National Financial Investigation Agency of Equatorial Guinea (ANIFGE) recently hosted a week-long training seminar in Malabo, bringing together government officials, financial institutions, and experts from around the world to combat money laundering, terrorist financing, and the proliferation of weapons of mass destruction.

Seminar Details

  • Dates: February 12th to 16th, 2018
  • Partners: Caribbean Financial Action Task Force (CFATF) and the Financial Action Task Force of Latin America (GAFILAT)
  • Objective: Strengthen Equatorial Guinea’s implementation of international standards against money laundering and terrorist financing

Participants

Participants from various government institutions, including:

  • Ministry of Finance and Budgets
  • Ministry of National Security
  • Ministry of Justice, Worship and Penitentiary Institutions
  • Financial institutions and private sector representatives

Key Issues Discussed

During the intensive sessions, participants discussed key issues related to the mutual evaluation process and the FATF Recommendations, including:

  • National risk assessment
  • National cooperation and coordination
  • AML/CFT strategy and action plans
  • Money laundering
  • Terrorist financing
  • Confiscation
  • Financial sanctions
  • FIU (Financial Intelligence Unit)
  • Public order authorities
  • Preventive measures
  • Supervision

Seminar Coordination and Presentation

The seminar was coordinated by ANIFGE and presented in Spanish by:

  • Ana Folgar, CFATF Legal Advisor
  • Juan Cruz, GAFILAT Technical Expert

Equatorial Guinea’s AML/CFT Framework

Equatorial Guinea is a member of the Anti-Money Laundering Task Force in Central Africa (GABAC) and recognizes French and Spanish as official languages, with Spanish being the most widely used in the implementation of FATF standards.

International Support for AML/CFT Efforts

The country has received support from:

  • CFATF (Caribbean Financial Action Task Force)
  • IMF (International Monetary Fund)
  • WB (World Bank)
  • GAFILAT (Financial Action Task Force of Latin America)
  • SEPBLAC (South East Pacific Alliance against Money Laundering)

Conclusion

The seminar was part of the efforts to strengthen the global network of FATF-style Regional Groups (FSRBs) and support ANIFGE’s AML/CFT framework.

For more information on the seminar and Equatorial Guinea’s AML/CFT efforts, please visit: