Liberia: Development Partners, Giaba Provide Caution On Liberia's National Risk Assessment

press release

Monrovia — Two of Liberia's main development partners, the United States of America and the European Union along with the Intergovernmental Action Group Against Money laundering (GIABA), have provided caution to Liberia to uphold professional standards in the fight against money laundering and countering terrorist financing .

In separate remarks at the start of a two day National Risk Assessment (NRA) workshop in Monrovia on Thursday, April 29, 2021, the Political and Economic Counselor of the United States of America, Joel A. Kopp proposed that concrete steps need to be applied by Liberia to robustly combat money laundering and countering terrorist financing.

According to him, every effort should be tackled and designed by competent authorities who are designing measures to protect Liberia's Financial system from unwholesome practices.

He mentioned that risks prevention when properly address and collectively tackle by the Financial Intelligence Unit of Liberia and other actors, could greatly help Liberia to move forward and get global attention.

Also speaking, the Head of Political and Economic Governance Counsellor Cooperation, Jyrki Torni stressed the need for every actor in Liberia's money laundering regime need to exhibit the spirit of collaboration to win the battle against illegal financial acts and the reduction of corruption.

According to a key delegate of the European Union Delegation to Liberia, fighting money laundering and countering terrorist financing need to be implemented in Liberia by the Financial Intelligence Unit without fear or favor because, it is a global responsibility of every country to fight illegal financial acts.

He emphasized robustness by Liberia FIU and other anti- corruption entities to brainstorm about risks , as Liberia prepares for the second round of mutual evaluation.

For his part, Abdulai Lassana Darboe, an executive of GIABA expressed optimism that tangible measures when applied by Liberia before and after the mutual evaluation could attract huge foreign direct investments in Liberia.

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