… As Liberia Joins Egmont Group of Financial Intelligence Unit
The Financial Intelligence Agency (FIA) of Liberia, under the leadership of Mr. Mohammed Nasser, has vowed to crack down on individuals, including government officials, who attempt to squander the country’s resources and flee to other countries. This announcement was made during an interview on the Super Morning Show on ELBC Radio in Paynesville on Monday, June 10, 2024.
“You will be hooked by the Egmont Group. The Group is all about sharing information and using your counterparts in other countries around to help you get at some of these people and get those things back to your country. For example, setting people in this country you might have issues with base upon your investigation and people don’t want to take action locally you can have the Egmont Group inform, internationally there is going to be some actions,” he added.
Mr. Nasser highlighted the efforts of the FIA in combating money laundering and the financing of terrorist groups, emphasizing that Liberia has recently joined the prestigious Egmont Group of Financial Intelligence Units.
The Egmont Group is a global network of financial intelligence units dedicated to strengthening the fight against financial crimes such as money laundering and terrorist financing.
By becoming a member of the Egmont Group, Liberia gains access to a platform for securely exchanging information and expertise with other member countries. This collaboration enhances the country’s ability to track and recover illicitly obtained assets, regardless of where they may have been moved.
Mr. Nasser explained that joining the Egmont Group requires meeting certain criteria, including having flexible laws for sharing information and demonstrating a commitment to combating corruption. Liberia worked closely with mentors from Ghana and Nigeria to meet these requirements and successfully gain admission to the Egmont Group.
“I want to thank Ghana for starting the process; to join the group it requires you to have two mentors and so Ghana and Nigeria were our mentors but unfortunately Ghana was absent for one of the meetings, and based on that they were dropped and then Congo Brazzaville appeared and joined the process so, Congo Brazzaville and Nigeria stood with us in the process and at the end of the day Liberia was admitted into the Egmont Group,” Mr. Nasser said.
President Joseph Nyuma Boakai’s administration has shown a strong commitment to fighting corruption, with Mr. Nasser emphasizing that individuals attempting to use Liberia as a base for illicit financial activities will face consequences.
The FIA is focused on rectifying past shortcomings and strengthening its efforts to combat financial crimes under the current leadership.
In conclusion, Mr. Nasser expressed optimism about the future of the FIA and its collaboration with the Ministry of Justice to address outstanding issues and move forward in the fight against corruption. Liberia’s membership in the Egmont Group signifies a significant step towards enhancing its capabilities in combating financial crimes and ensuring the responsible use of the country’s resources.
