Key public institutions that are members of Liberia’s competent authorities have spoken about workable measures and benefits that Liberia could get, if much priority is given by the three branches of the Liberian government for the country’s Anti-money laundering and countering terrorist financing (AML/CFT) regime and National Risk Assessment Report.

Those institutions that are stakeholders of Liberia’s AML/CFT regime are: Liberia Anti-Corruption Commission, Liberia Revenue Authority, General Auditing Commission, Ministry of Justice, Central Bank of Liberia, Ministry of Finance and Development Planning, Liberia National Police, amongst others.

However, making separate brief remarks recently at the National Risk Assessment workshop in Monrovia, Central Bank of Liberia, Executive Governor, Aloysius Tarlue, elaborated that the AML/CFT laws and strategies need to be strengthened and implemented to put Liberia on par with other countries.

According to him, governance and integrity are key drivers of the fight against AML/CFT and as such, the mining, transportation and other sectors need to be thoroughly looked at by FIU and other competent authorities to discourage and reduce money laundering.

Also speaking, the Auditor General of the General Auditing Commission (GAC), Yusador Saadatu Gaye, has renewed call for proactive and robust measures against countering terrorist financing and money laundering to help improve Liberia’s governance rating.

For his part, Moses Kowo, an official of the Liberia Anti-Corruption Commission, expressed optimism that the full implementation of AML/ CFT laws in Liberia could greatly help to protect taxpayers’ money and the country’s financial system.

Also making remarks, the president of the Bankers’ Association of Liberia, John B. S. Davies, III, promised that members of the association are prepared to follow every compliance regulation by the Financial Intelligence Unit and other competent authorities.

In conclusion, Sampson Dee, Director General of the Liberia Business Registry, has promised that the registry is prepared to update FIU and other competent authorities about the records of every beneficiary ownership to ensure compliance with the AML/CFT laws.

According to him, disclosing beneficial owners’ records could help to discourage illicit flow of money or transactions in Liberia’s financial system.