Chad makes progress in the fight against money-laundering and terrorism financing
From 25 to 27 April 2017, the UNODC Global Programme against Money-Laundering, the Proceeds of Crime and the Financing of Terrorism (GPML) organised, thanks to the financial support of the Government of Luxembourg and the logistical support of the Financial Intelligence Unit (FIU) of Chad a national workshop for reporting entities on combatting money laundering and the financing of terrorism (ML/FT).
The workshop took place in the capital city N'Djamena and was designed to raise awareness among financial institutions and other designated non-financial businesses (DNFBPs) of the key elements of AML/CFT regime in Chad, in particular, the requirement for them to report transactions they deem suspicious of being related to criminal or terrorist activity. Some 25 participants (banks, lawyers, notaries, accountants, insurances, bureaux de change, etc.) benefited from the training workshop.
The three-day workshop incorporated practical sessions on a number of relevant topics including introduction to money laundering and terrorism financing, basic steps of customer due diligence (CDD) measures, use of suspicious transactions form, national AML/CFT legal and institutional frameworks, search on the Consolidated United Nations Security Council Sanctions List, etc.
It should be noted that Chad's underdeveloped financial sector is primarily cash-based and lacks sufficient capacity to enforce banking security. In addition, money transactions through wire transfer services (i.e. Western Union), hawala remittance systems, or SMS mobile money transfers are being used widely in country. In general banks usually report suspicious transactions (STR) to the FIU while it remains difficult for DNBPs to report STRs mainly because of lack of awareness of their AML/CFT obligations.
Chad is a member of the Task Force on Money Laundering in Central Africa (GABAC), a Financial Action Task Force-style regional body. Moreover the National Agency for Financial Investigation (ANIF), which is the country's financial intelligence unit, is a member of the Egmont Group.
In his closing remarks, Mr. Souleyman ABDELKERIM CHERIF, Director of the ANIF emphasized that a relationship of trust and confidence is built with reporting entities thanks to this workshop and hoped that the different beneficiaries will send more STRs.
GPML implemented similar activities in Burkina Faso earlier in March this year through its Sahel Programme, which constitutes the UNODC Contribution to the United Nations Integrated Strategy for the Sahel (UNISS), launched by the UN Security Council in 2012 in response to the conflicts in Libya (2011) and Mali (2012).