Financial Crime World

Gambia Urged to Strengthen Anti-Corruption Efforts

Banjul, The Gambia - A recent report by Public-Private Integrity has highlighted the need for The Gambia to strengthen its anti-corruption efforts and improve its implementation of measures to combat money laundering (ML) and terrorist financing (TF).

Financial Infrastructure and Investigations

According to the report, The Gambia’s financial infrastructure is based on the International Financial Reporting Standard (IFRS), but different bodies work separately on investigating ML claims. The Serious Crime Unit (Fraud Squad) and the Government Financial Intelligence Unit (GFIU) are responsible for investigating ML cases, but there is a need for more effective information sharing between them.

Recommendations

The report made several key recommendations to strengthen anti-corruption efforts in The Gambia:

  • Implementing Anti-Corruption Measures: Ensure that an anti-corruption commission is in place and anti-corruption policies are applied in practice.
  • Extending the Ombudsman’s Mandate: Extend the Ombudsman’s mandate to include the power to instruct public officials on issues of maladministration.
  • Transparency and Accountability: Publish the progress of budget execution and provide a clear timetable for publication. Clearly define and identify the public sector for reporting, transparency, and accountability purposes.
  • Office of the Director of Public Prosecutions: Expand the role and functions of the Office of the Director of Public Prosecutions in the administration of justice.
  • Risk Assessments: Conduct regular risk assessments for the financial and non-financial sectors.
  • FATF Recommendation 25: Implement FATF Recommendation 25 on Transparency and Beneficial Ownership of Legal Arrangements.
  • International Cooperation: Conclude bilateral or multilateral agreements to improve international cooperation.

Asset Recovery and International Cooperation

The report also highlighted the need for The Gambia to recover assets acquired through fraud from former and current public officials, individuals, and groups mentioned in the 2018 Janneh Commission report. While the country has enacted laws to punish acts of corruption and pay damages, there is no effective mechanism in place to ensure efficient tracing and identification of ML and TF cases.

The report emphasized that international cooperation and asset recovery assistance are essential for The Gambia to effectively combat corruption and implement the United Nations Convention against Corruption (UNCAC).

Conclusion

The report concluded that it is essential for The Gambia to take concrete steps to address these recommendations in order to strengthen its anti-corruption efforts and implement the UNCAC effectively. By implementing these measures, The Gambia can improve its financial infrastructure, enhance transparency and accountability, and combat corruption and money laundering.