Africa-Press – Ghana. Ghana has successfully hosted an on-site assessment of its anti-money laundering and counter-terrorist financing framework as part of the Third Round Mutual Evaluation.
The exercise was conducted by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA), a specialised institution of the Economic Community of West African States (ECOWAS), in line with standards set by the Financial Action Task Force (FATF).
The on-site mission, which took place from January 26 to February 6, 2026, constitutes the most critical phase of the evaluation process.
It assessed Ghana’s compliance with international benchmarks on anti-money laundering, counter-terrorist financing and counter-proliferation financing.
At a media briefing, Mr Kwadwo Twum Boafo, Chief Executive Officer of the Financial Intelligence Centre, explained that a team of international assessors and officials from the GIABA Secretariat engaged extensively with stakeholders across the public and private sectors.
The engagement, he said, was aimed at validating Ghana’s technical compliance with the FATF’s 40 Recommendations and measuring the effectiveness of its AML/CFT/CPF regime.
The opening session brought together key government and institutional leaders, including the Deputy Minister for Finance, Mr Thomas Nyarko Ampem; the Governor of the Bank of Ghana, Dr Johnson Pandit Asiamah; the National Security Coordinator, COP Osman Abdul Razak; officials from the Ministry of Foreign Affairs; and the Director General of GIABA, Mr Edwin Harris Jnr.
During the two-week mission, assessors met competent authorities, supervisory and self-regulatory bodies, financial institutions, designated non-financial businesses and professions, non-profit organisations and virtual asset service providers.
Mr Twum Boafo noted that unlike previous rounds, the Third Mutual Evaluation placed greater emphasis on effectiveness rather than mere technical compliance.
He said assessors examined Ghana’s understanding of money laundering and terrorist financing risks, the application of risk-based supervision, the use of financial intelligence in investigations and prosecutions, the implementation of targeted financial sanctions, transparency of beneficial ownership information, asset recovery efforts and the strength of inter-agency and international cooperation.
According to him, the on-site visit also offered Ghana the opportunity to demonstrate legislative reforms, regulatory improvements and enhanced institutional coordination implemented since the last evaluation.
“These reforms reflect Ghana’s resolve to protect the integrity of its financial system and to combat illicit financial flows,” he stated.
Mr Twum Boafo described the completion of the on-site phase as a significant milestone, while indicating that the overall Mutual Evaluation process remains ongoing.
The final report is expected to be considered for adoption at the GIABA Plenary scheduled for November 2026.
The closing ceremony was attended by the Minister of Finance and Chairman of the Inter-Ministerial Committee on Counter-Proliferation Financing, Dr Cassiel Ato Forson; the Second Deputy Governor of the Bank of Ghana, Mrs Matilda Asante; the Deputy National Security Coordinator, Madam Elizabeth Yankah; the FIC CEO; and representatives of GIABA, formally bringing the mission to a close.
