Financial Crime World

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Gambian Enforcement of Anti-Money Laundering Rules Falls Short

Banjul, The Gambia - A recent report has highlighted significant shortcomings in the enforcement of anti-money laundering (AML) and combating the financing of terrorism (CFT) rules in The Gambia.

Insufficient Implementation of AML/CFT Measures

The report, published by Public-Private Integrity, a global civil society network promoting the implementation and monitoring of the United Nations Convention against Corruption (UNCAC), found that despite efforts to implement AML/CFT measures, there are significant gaps in the country’s enforcement mechanisms.

Domestication of Conventions and Mechanisms

According to the report, The Gambia has yet to domesticate most of the conventions it has ratified, including the UNCAC in the area of AML. Additionally, there is no effective mechanism in place to ensure efficient tracing and identification of money laundering and terrorist financing cases.

Inefficiencies in Investigation and Prosecution

The report also noted that the Serious Crime Unit (SCU) and the Financial Intelligence Unit (GFIU) work separately on investigating money laundering, prosecution, and legal affairs, leading to inefficiencies and delays.

Lack of Transparency in Asset Sales

Furthermore, the report highlighted the lack of transparency in the sale of assets seized by the Janneh Commission, which investigated fraud and corruption during the previous government. The commission had seized numerous properties believed to have been fraudulently obtained by former President Yahya Jammeh and his associates, but the sale of these assets has not been publicly disclosed since 2018.

Recommendations for Authorities

The report made several key recommendations to authorities, including:

  • Ensuring that an anti-corruption commission is in place and applying anti-corruption policies in practice
  • Extending the Ombudsman’s mandate to include the power to instruct public officials on issues of maladministration
  • Expanding the role and functions of the Office of the Director of Public Prosecutions
  • Seeking regular risk assessments from the Central Bank of The Gambia
  • Implementing FATF Recommendation 25 on Transparency and Beneficial Ownership of Legal Arrangements

Improved International Cooperation

The report also emphasized the need for improved international cooperation in relation to:

  • Extradition
  • Mutual legal assistance
  • Transfer of sentenced persons or criminal proceedings
  • Law enforcement cooperation
  • Joint investigations
  • Special investigative techniques

Urgent Action Required

The Gambian government has been urged to take immediate action to address these shortcomings and ensure that its AML/CFT regime is fully effective.