Security experts from five ECOWAS English-speaking countries have converged in Accra to brainstorm on how to tighten the screw on regional crime through money laundering. The seven experts with 17 other participants from The Gambia, Ghana, Liberia, Nigeria and Sierra Leone are in Accra for the next three days to draft a National Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT) Strategy for ECOWAS English speaking countries. Ms Stella Attakpah, Programme Officer, Inter-Governmental Action Group against Money Laundering and Terrorist Financing in West Africa (GIABA), said it was vital that all member states developed effective AML/CFT strategies in response to the menace of money launderers who were taking advantage of inadequacies in the system. Their activities, she noted, were becoming serious threats to the peace and security of the international community because their transactions were often across borders in order to disguise the origin of their monies. Ms. Attakpah said: “The establishment of GIABA in 2000 by the Authority of Heads of State and Governments of the ECOWAS is one of the major responses to deal with this scourge to make sure that crime does not pay and help commit further crime.” She said: “This is a practical demonstration of the strong political commitment of all member states in our region to combat money laundering and possible terrorist financing.” She said to build an effective Anti-Money Laundering and Combating Terrorist Financing regime there was the need for strong government commitment as well as commitment from the private sector. Ms. Attakpah said if the region was able to fight organized criminals, money launderers and terrorist financiers, it would have a sound financial base that would attract genuine investors and investments to the region. Ms. Delphine Schantz, Anti-Money Laundering Adviser, Global Programme against Money Laundering, United Nations Office on Drugs and Crime (UNIODC), said because most organized criminal activities, including money laundering and terrorist financing were cross-border activities, effective deterrence, prevention, detection and disruptive measures were needed to be in place at all times at the national levels. Source: GNA