Financial Crime World

Gabon’s Battle Against Illicit Financial Flows: Strategies Emerge

As part of its efforts to combat corruption and money laundering, Gabon has implemented various strategies to prevent embezzlement. In this article, we’ll explore some of these strategies and the key actors involved in the fight against illicit financial flows.

Establishing a Ministry for Good Governance

Gabon’s government has established a Ministry dedicated to Good Governance, as well as the National Commission for the Fight against Corruption and Illicit Enrichment (CNLCEI), an independent administrative authority. This move is aimed at promoting transparency and accountability in government transactions.

The Role of ANIF and CNLCEI

The National Agency for Financial Investigation (ANIF) was set up to monitor financial flows in relation with financial institutions. The ANIF is governed by Community Regulation N°01/CEMAC/UMAC/CM of April 16, 2016 on the Prevention and Suppression of Money Laundering, Terrorist Financing and Proliferation in Central Africa.

The CNLCEI plays a crucial role in the fight against corruption and illicit financial flows. The commission is responsible for investigating and prosecuting cases related to corruption and money laundering.

Reforms and Strategy Documents

The government has implemented reforms aimed at ensuring the regularity of financial flows, with the General Directorate of Customs and Indirect Rights and the General Directorate of Taxes being responsible for this task.

A Strategy Document to Combat Corruption and Money Laundering (DSLCCBC) was developed with the support of the United Nations Development Programme (UNDP). The document targets 10 priority sectors likely to be subject to illicit trafficking. This strategy is led by the ANIF and CNLCEI, and aims to prevent, educate, and create conditions that discourage corruption.

Key Actors in the Fight Against Illicit Financial Flows

The key actors involved in the fight against illicit financial flows are:

  • The National Financial Investigation Agency (ANIF)
  • The National Directorate of the Bank of Central African States (BEAC)
  • The Central African Banking Commission (COBAC)
  • The Inter-Governmental Task Force against Money-Laundering in Central Africa (GABAC)

Collaboration and Diagnostic Study

A collaboration was initiated between the CNLCEI, the Security Forces, and the Public Prosecutor’s Office to combat corruption. Additionally, a diagnostic study on national assessment of governance, corruption, and risk of illicit financial flows in the implementation of public policies is being conducted.

Suspected Illicit Commercial Financial Flows

The suspected illicit commercial financial flows to Gabon include:

  • Tax fraud
  • Violation of market rules
  • Corruption
  • Money laundering

Conducting in-depth studies to estimate these financial flows will contribute to the implementation of objectives 16.4 and 16.5, including reducing illicit financial flows and strengthening recovery of stolen goods.

Key Expectations of the Pilot Project

The pilot project aims to:

  • Strengthen the capacity of all actors combating IFFs
  • Establish a mechanism for measuring and sharing data related to IFFs
  • Contribute to the reduction of corruption in all its forms