Ghana finally removed from the EU’s money laundering blacklist. … “Ghana is therefore no longer subject to the FATF’s increased monitoring process. Ghana will continue to work with GIABA to improve further its AML/CFT regime”, it said.
Is Ghana a high risk country for money laundering?
He added that regretably, “the European Union also issued a press release on 18th October, 2020 adding Ghana to their list of high-risk third countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime as a result of Ghana being on the FATF list”.
Has Ghana been blacklisted?
Head of Delegation of the EU to Ghana, Ambassador Diana Acconcia to has explained that Ghana has been blacklisted because it failed to put some checks in place to forestall money laundering. … The embassy has up to November 12, 2020, to withdraw all its money to another bank.
What is money laundering in Ghana?
The Anti Money Laundering Money laundering & Combating The Financing of Terrorism Directive, a collaborative initiative by the Bank of Ghana and the Financial Intelligence Centre, which was issued in July 2018 defined Money Laundering as the process whereby criminals attempt to conceal the illegal origin and/or …
Why is EU blacklisted in Ghana?
EU set to remove Ghana from money laundering and terrorist financing list. The Head of the European Union’s (EU) delegation to Ghana, Diana Acconia, recently announced the EU’s desire to remove Ghana from the list of countries with deficiencies in Anti Money Laundering and Terrorism financing laws.
What is FIC Ghana?
The FIC is the National Centre for the receipt and analysis of suspicious transaction reports and other information relevant to predicate offences of Money Laundering/ Terrorist Financing and Proliferation Financing (ML/TF&P) and to disseminate actionable intelligence to competent authorities.
Is Ghana a high risk third country?
“It is expected that the Financial Action Task Force, the global money laundering and terrorist financing watchdog, will, in June 2021, announce that Ghana has been taken off its list of high risk , third world countries with strategic deficiencies in Anti-money Laundering and Countering of Terrorism Financing”, the …
Is Ghana blacklisted by EU?
Ghana – one of 12 countries found to pose “significant threats” to the EU’s financial system – expects be removed from the EU’s blacklist, it’s been revealed.
What is money laundering blacklist?
The FATF blacklist has been issued by the FATF since 2000, and lists countries which FATF judges to be non-cooperative in the global fight against money laundering and terrorist financing, calling them “Non-Cooperative Countries or Territories” (NCCTs).
Is Ghana sanctioned country?
Ghana is categorised by the US State Department as a Country/Jurisdiction of Primary Concern in respect of Money Laundering and Financial Crimes.
What means money laundering?
Money laundering is the process of disguising the proceeds of crime and integrating it into the legitimate financial system. Before proceeds of crime are laundered, it is problematic for criminals to use the illicit money because they cannot explain where it came from and it is easier to trace it back to the crime.
How do I get an anti money laundering certificate?
How to get Anti Money Laundering Certificate ?
- Register for Uniform Examination and get the certification course material along with the reference books. …
- Get the Simulated Exams once you complete reading the study material. …
- Write your Final exams and wait for your results.
What is compliance AML?
What is AML Compliance Program? An anti-money laundering program is a set of regulations and procedures that financial institutions follow to prevent and detect money laundering or terrorist financing activities.
Is Saudi Arabia on the EU blacklist?
The EU executive added the oil-rich kingdom in February to its blacklist of 23 jurisdictions that represent a threat to the bloc because of lax controls against terrorism financing and money laundering, but after Saudi pressure the list was struck down by EU states.
How many countries are in black list of FATF?
The first FATF blacklist was issued in 2000 with an initial list of 15 countries. Since then, the lists have been issued as part of official FATF statements and reports on a yearly, and sometimes twice-yearly, basis. The current FATF blacklist includes two countries: North Korea and Iran.
Why is Botswana blacklisted?
Matsheka. Botswana was among four African countries added by the European Commission to a list of countries that pose financial risks to the European Union due to anti-money laundering and terrorism financing shortfalls. …