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Thematics

Inter-Governmental Action Group against Money Laundering in West Africa (GIABA)

est. December 2000

OVERVIEW

The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) was established in 2000, by the Authority of Heads of State and Government of the Economic Community of West Africa States (ECOWAS), to protect the economies of Member States from the laundering of proceeds of crime.

OBJECTIVES

The Mandate and Functions of GIABA as set out in the Statutes, include to:

  • Ensure the adoption of standards against money laundering and the financing of terrorism in accordance with acceptable international standards and practices including the Financial Action Task Force Recommendations
  • Facilitate the adoption and implementation by member States of measures against Money Laundering and Financing Terrorism, taking into account specific regional peculiarities and conditions
  • Function as a forum where members can discuss matters of regional interest and share experiences
  • Organize self-evaluations and mutual evaluations to determine the efficacy of measures adopted, including their conformity to acceptable international standards
  • Coordinate and provide support to member States to establish and implement Anti-Money Laundering /CFT regimes, including the implementation of laws against the proceeds of crime through mutual legal assistance, and also in the establishment and maintenance of financial intelligence units (FIUs)

VISION: GIABA is committed to be a leader in promoting a regional alliance against money laundering and terrorist financing.

MISSION STATEMENT: To promote concerted actions in the design and diligent implementation of harmonized AML/CFT regimes in West Africa, consistent with international standards.