Strengthening Banking Regulations in Gabon

Combating Financial Crimes in Gabon

The government of Gabon has taken significant steps to strengthen its banking regulations and combat financial crimes, including money laundering, corruption, and tax fraud. These efforts aim to prevent and suppress illicit financial flows and promote transparency in the country’s banking sector.

Establishment of Key Agencies

National Commission for the Fight against Corruption and Illicit Enrichment (CNLCEI): Established in 2003 as an independent administrative authority, CNLCEI works closely with other government agencies and international partners to prevent and suppress money laundering, terrorist financing, and proliferation.
National Agency for Financial Investigation (ANIF): Created to monitor financial flows and work with financial institutions to identify and report suspicious transactions. ANIF is governed by Community Regulation N°01/CEMAC/UMAC/CM of 16 April 2016 on the Prevention and Suppression of Money Laundering, Terrorist Financing and Proliferation in Central Africa.

Reformed Judicial System

Specialized Tribunals and Courts: Gabon’s judicial system has been reformed to include specialized tribunals and courts for offenses related to illegal mining, forestry, and fishing activities.
Strategy Document to Combat Corruption and Money Laundering (DSLCCBC): Developed with the support of the United Nations Development Programme (UNDP), this document targets 10 priority sectors likely to be subject to illicit trafficking.

Combating Illicit Financial Flows

Collaboration between CNLCEI, Security Forces, and Public Prosecutor’s Office: The government has established a collaboration to combat illicit financial flows.
In-Depth Studies on Illicit Commercial Financial Flows: To estimate the financial flows mentioned above and contribute to the implementation of objectives related to reducing illicit financial flows and strengthening the recovery of stolen goods.

Capacity Building for Actors Combating IFFs: The government aims to strengthen the capacity of all actors combating IFFs.
Mechanism for Measuring and Sharing Data Related to IFFs: A mechanism will be established to measure and share data related to IFFs.

Conclusion

Gabon is taking significant steps towards combating financial crimes and promoting transparency in its banking sector. The establishment of key agencies, reformed judicial system, and collaborations between government agencies and international partners demonstrate the country’s commitment to addressing illicit financial flows.