The Central Bank of Liberia (CBL) supervises all FI’s to ensure that they have in place: i) an effective AML/CFT compliance program, ii) Sound CDD & EDD programs in place that have reliable account opening, customer identification & verification procedures & processes, iii) A Know Your Employee program in place that allows for understanding of employees’ background, conflict of interest & susceptibility to ML & TF complicity. CBL also ensures that FIs’ compliance with STR, CTR, and other reporting obligations to FIA are effective.
CBL is a member of the IMC.

The Liberia Business Registry (LBR) manages the beneficiary ownership registry (BO registry), assists in the identification of businesses established for the sole purpose of facilitating ML/TF; assists in preventing shell companies from being registered; assists in identifying the beneficial ownership of companies; and reports suspicious business registrants to the FIA. LBR provides updates on the number of businesses established to facilitate ML/TF; the number of shell companies registered; number of suspicious business registrants. LBR is a member of the IMC and a member of the Financial Crime Working Group.

The Ministry of Mines & Energy (MME) supervises all dealers in precious metals and precious stones to ensure that they have in place an AML/CFT compliance program, Customer Due Diligence program, and Know Your Employee program that allows for the understanding of employees’ background, conflict of interest, and susceptibility to ML & TF complicity, ensure dealers in precious metals and precious stones comply with STR & CTR obligations to the FIA, update of licenses issued to & de-licensing of dealers, etc. MME is a member of the Financial Crime Working Group.

The Ministry of Finance and Development Planning (MFDP) provides allotment to the FIA in a timely manner to enhance its functionality. MFDP NGOs & NPOs Unit supervises all NGOs/NPOs to ensure that they have in place AML/CFT measures before, during, and after registration and accreditation in Liberia. MFDP is co-chair of the IMC and is a member of the Financial Crime Working Group.

 The Liberia National Lottery Authority (NLA) supervises the gaming sector including casinos to ensure that they have in place an AML/CFT compliance program, a Customer Due Diligence program, a KYE program, and a Know Your Employee program in place that allows for the understanding of employees’ background, conflict of interest and susceptibility to ML & TF complicity. NLA ensures that casinos’ compliance with STR, CTR, and other reporting obligations to FIA are effective. NLA is a member of the IMC

The Ministry of Foreign Affairs (MFA) plays a major role in the distribution of the UN list of terrorists, terrorist groups, and high-risk countries, assists in ML/TF investigations across borders by the use of mutual legal assistance (MLA), maintains databases of travel documents (passports, laissez passer) and makes same available to the FIA in a timely manner. MFA is a member of the IMC and a member of the Financial Crime Working Group. 

The Liberia Telecommunications Authority (LTA) supervises all telecommunications companies to have in place an effective AML/CFT compliance program, Know Your Employee program that allows for the understanding of employees’ background, conflict of interest, and susceptibility to ML & TF complicity, and telecommunications providers mandated to ensure KYC/CDD procedures for customers.

The Ministry of Transport (MoT) supervises all dealers in automobiles to ensure that they have in place an AML/CFT compliance program, ensure dealers in automobiles comply with STR & CTR obligations to the FIA, and update on licenses issued to and de-licensing of dealers. MoT is a member of the Financial Crime Working Group.

The Ministry of Commerce and Industry (MoCI) promotes and enforces KYC for business establishments within the Republic. MoCI establishes effective AML/CFT programs to evaluate and track the movement of goods and traders in and out of Liberia for transactions relating to trade-based money laundering and terrorist financing. MoCI maintains a database of cross-border transactions and makes the same available to the FIA. MoCI is a member of the Financial Crime Working Group.

The Ministry of Post and Telecommunication supervises all postal mailing service providers to have in place an effective AML/CFT Compliance Program for postal service providers, complete KYC/CDD measures for employees and costumers/originators and beneficiaries of postal transactions, etc. MoPT is a member of the IMC and a member of the Financial Crime Working Group. 

The Liberia National Bar Association (LNBA) serves as the governing body/regulator for the lawyers in Liberia.

The Liberian Institute of Certified Public Accountants (LICPA) serves as the governing body/regulator for the accountants in Liberia.

The Liberian Business Association (LIBA) serves as the governing body/regulator for the business community in Liberia.