BEAC announces set of measures to crack down on money laundering

Sep 25, 2013

The Bank of Central African States (BEAC) has announced a series of measures to stop the traffic of suspicious funds in its economic space.

The Bank of Central African States (BEAC) has announced a series of measures to stop the traffic of suspicious funds in its economic space.

The Governor of the BEAC, Lucas Abaga Nchama, explained that the central bank aims to comply with international standards with regards to money laundering and the fight against the financing of terrorism.

"We took the initiative to invite the national agencies of financial investigations within the sub-region to ensure that we work effectively to limit the damages caused by this phenomenon in our economic space," he said, quoted by Africa Info.

BEAC will thus enhance collaboration and cooperation with relevant institutions in the fight against money laundering and terrorist financing in the CEMAC zone, and is committed to
strengthening
the IT resources for the supervision, detection and tracing of suspicious transactions.ADNFCR-2976-ID-801641614-ADNFCR