Financial Crime World

Financial Intelligence Unit of Senegal: Activities Report (January-September 2012)

Key Findings

The Financial Intelligence Unit (FIU) of Senegal’s activities report for the period January to September 2012 highlights several key findings:

  • Suspicious Transactions Reports: The FIU received a total of 58 suspicious transactions reports (STRs), which involved various fraudulent offenses, including forgery, corruption, drug trafficking, and advance fee fraud.
  • Drug Trafficking Operations Dismantled: A significant amount of cocaine was seized from a Guinean singer in Dakar, leading to the dismantling of a network of international drug traffickers using Dakar as a transit point.
  • Seizure of Cannabis: The FIU also seized not less than 2 kg of cannabis from a suspect who had it hidden in his rented room.

Legislative and Regulatory Measures

During the period under review, several legislative and regulatory measures were taken to enhance the fight against illicit financial activities:

  • Decree No. 2012-502: The President issued Decree No. 2012-502 to enforce the law on illicit enrichment, designating members of the Headquarters, Trial Court, and Committee in charge of Investigations.
  • Creation of National Commission for the Fight against Fraud and Corruption (OFNAC): The government submitted bill No. 13/2012 for the creation of OFNAC, which was adopted by the National Assembly.

Training and Technical Assistance

The FIU continued its training activities to enhance the capacity of various stakeholders in the fight against illicit financial activities:

  • Training of Magistrates, Investigators, and Auditors: The FIU provided training for magistrates, criminal investigators, legal auditors, chartered and auditor accountants, bank compliance officers, and representatives of decentralized financial systems.
  • Technical Assistance Needs: Senegal requires technical assistance in areas such as training of magistrates and judiciary police officers, management of transportation of cash and BNIs across borders, reports of control, and establishment of a national database on financial and economic crimes.

Conclusion

The report concludes that Senegal has demonstrated a firm desire and determination to fight corruption and eradicate mismanagement. However, the country requires support from its technical and financial partners to implement its National AML/CFT strategy and effectively combat money laundering and terrorist financing.