Africa-Press – Angola. Money laundering and terrorist financing represent threats to the stability of countries, which is why they need a strong and coordinated response, defended Monday, in Lubango, the governor of Huíla, Nuno Mahapi.
When welcoming the opening of the 47th Meeting of Senior Experts of the Group to Combat Money Laundering and Financing of Terrorism for Eastern and Southern Africa (ESAAMLG), Nuno Mahapi highlighted that for this fight it is important to ensure that institutions are equipped with the necessary resources to prevent, detect and punish those who seek to benefit from illicit activities.
For the governor, the meeting represents a “valuable” opportunity to strengthen cooperation and exchange knowledge in the joint fight against these scourges that threaten the security and development of countries.
Therefore, he pointed out, international cooperation also plays a vital role, as financial crime knows no borders.
Money laundering is the process by which perpetrators of criminal activities conceal the origin of illicitly obtained assets and income (advantages), transforming the liquidity resulting from these actions into legally reusable capital, by disguising the origin or true owner of the funds.
More than 800 delegates from ESAAMLG member countries and representatives from Cooperating and Supporting Nations and Organizations are meeting in Lubango to deliberate on issues related to efforts to combat money laundering and terrorist financing in the region.
The ESAAMLG, created in 1999, is a regional body made up of 21 member countries dedicated to combating money laundering and the financing of terrorism and the proliferation of weapons of mass destruction in East and Southern Africa, based on the FATF Recommendations and other international instruments defined to combat financial crimes.
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