A NAFI official from Cameroon took part in the first meeting of the GABAC Working Group dedicated to conducting the typology exercise on the risks of money laundering and terrorism financing inherent in manual exchange and money and securities transfer operations in Central Africa, held in Douala from 22 to 25 May 2017.
This Working Group was established by Decision No. 001/GABAC/PR/SP of 10 April 2017 of the President of GABAC, with the following missions:
- D’auditer les activités de change manuel et de transfert de fonds en Afrique Centrale ;
- D’identifier ses acteurs principaux et secondaires ;
- D’apprécier la pertinence des procédures des institutions en charge du contrôle et de la régulation de ces activités sous l’angle de la LAB/CFT ;
- D’évaluer les méthodes et les pratiques utilisées dans la filière afin de dégager les vulnérabilités en matière de blanchiment d’argent et de financement du terrorisme ;
- D’analyser les méthodes et les pratiques des blanchisseurs utilisant le change manuel et/ou le transfert de fonds et valeurs comme mode opératoire ;
- De mettre en évidence les réseaux éventuels, l’origine et la destination de fonds objet du change manuel ou du transfert suspect, l’interpénétration avec d’autres activités illicites et criminelles ;
- De proposer les mesures correctives.
- To audit manual exchange and remittance activities in Central Africa;
- To identify its main and secondary actors;
- To assess the relevance of the procedures of the institutions in charge of controlling and regulating these activities from the standpoint of AML/CFT;
- To evaluate the methods and practices used in the sector in order to identify vulnerabilities in money laundering and terrorism financing;
- To analyse the methods and practices of launderers using manual exchange and/or the transfer of funds and securities as a mode of operation;
- To identify potential networks, the origin and destination of funds subject to manual exchange or suspicious transfer, interpenetration with other illicit and criminal activities;
- To propose corrective measures.
The Douala meeting was devoted to the understanding of the tasks of the Working Group as defined by the Decision of the President of GABAC, the elaboration of a working schedule and the distribution of tasks among the members.