By Elorm DESEWU & Kofi AHOVI
The Bank of Ghana, the statutory regulator of the banking industry, is preparing to establish a financial intelligence centre aimed at cutting down the rate of money laundering activities in the country.
The centre, which will be overseen by the National Security Council, is expected to receive and analyse financial information, as well as disseminate information packages to the law enforcement agencies for investigation.
The centre will also exchange information with similar bodies in other countries as regards money laundering activities and similar offences, as well as make information available to investigating authorities – that is the intelligence agencies – and revenue agencies to facilitate the administration and enforcement of the laws.
The governing body of the centre includes representatives from the Ministry of Finance and Economic Planning (MOFEP), the national security apparatus, Bank of Ghana and Ministry of Interior, among others.
The establishment of the financial intelligence centre comes as a major requirement of the anti-money laundering law passed in January, last year which is currently awaiting a legislative instrument to become operational.
The Bank of Ghana, the statutory regulator of the banking industry, is preparing to establish a financial intelligence centre aimed at cutting down the rate of money laundering activities in the country.
The centre, which will be overseen by the National Security Council, is expected to receive and analyse financial information, as well as disseminate information packages to the law enforcement agencies for investigation.
The centre will also exchange information with similar bodies in other countries as regards money laundering activities and similar offences, as well as make information available to investigating authorities – that is the intelligence agencies – and revenue agencies to facilitate the administration and enforcement of the laws.
The governing body of the centre includes representatives from the Ministry of Finance and Economic Planning (MOFEP), the national security apparatus, Bank of Ghana and Ministry of Interior, among others.
The establishment of the financial intelligence centre comes as a major requirement of the anti-money laundering law passed in January, last year which is currently awaiting a legislative instrument to become operational.
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