Inter Governmental Action Group against Money Laundering in West Africa (GIABA) – a FATF-style regional body founded Dec. 10, 1999.
GIABA was created as part of the Economic Community of West African States (ECOWAS).
GIABA’s mission:
- protect the banking and financial systems of the member states from being penetrated by criminal proceeds
- ensure harmonization and implement measures to combat money laundering and terrorist financing
- help the member states to implement the recommendations of the FATF and relevant international conventions and resolutions
- strengthen international cooperation between the member states
- assess the progress and the effectiveness of measures taken to combat money laundering and terrorist financing.
Organizational structure
- Special Committee of Ministers
- Secretariat
- Technical Commission
- Network of national representatives
GIABA is an associate member of the FATF.
Member states
- Benin
- Burkina Faso
- Cape Verde
- Côte d’Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Observers
- Egmont Group of Financial Intelligence Units
- Sao Tome and Principe
Official site: http://www.giaba.org
EAG Bulletin
EAG in the news
The Senate of the Parliament of Kazakhstan on Wednesday approved ratification the agreement on the Eurasian Group on Combating Money Laundering and Terrorist Financing."
The agreement has been adopted by Parliament and sent to the President in the form of the law.
The Senate of Oliy Majlis (the upper house of the Uzbek parliament) approved the law on "Agreement on the Eurasian group on combating money laundering and financing of terrorism" at the plenary session on Tuesday.