The Minister of Information, Kojo Oppong Nkrumah, has urged the media to spearhead the advocacy against money laundering (ML) and terrorism financing (TF) to secure the needed level of public awareness and cooperation. 

The Minister said the media could address the awareness deficit by taking the lead in advocacy against ML and FT through public education and creating an enabling environment for whistleblowers. 

He made the remarks during the National Anti-Money Laundering and Combating Financing of Terrorism Media Outreach and Advocacy Training Programme organized by the Inter-Government Action Group Against Money Laundering in West Africa (GIABA) in Accra. 

The two-day event includes a training programme for journalists from selected media organisations and a tour of selected media organisations. 

He said recent events in the country, particularly the security matters in the Northern Region, where it was reported that some residents thwarted the arrest of some persons suspected to be terrorists, give cause for concern about the awareness deficit of society's obligation in the fight against terrorism. 

“The media, like other agencies, has an important, if not a peculiar role to play in helping the fight. The media can educate the public about the dangers of terrorism, its consequences, and how individuals can contribute to combating it,” he said. 

He added, “The media can provide the platform for whistleblowers to come forward with information on money laundering and terrorism financing activities in their communities.” 

The media outreach activities organised by GIABA, the Minister said, will provide the media with the necessary skills required to aid the media’s contribution to the fight against ML and TF. 

According to LexisNexis, a risk solutions agency, ML is estimated to cost West African countries $50 billion a year in illicit financial flows through activities that represent a net loss to the region in terms of revenue and investments. 

In a joint report by FATT and GIABA, the bodies noted that there is an emerging nexus between terrorist financing and trade in that there is an increased likelihood of terrorist financiers, using fraudulent trade-based practices to collect, transfer, and utilise funds for terrorist activities. 

The bodies noted that some states can willingly or unwillingly facilitate terrorism financing through weak regulatory frameworks and legal regimes.

GIABA underscored the importance of journalism to combat money laundering and terrorism financing through investigative journalism in the sub-region. 

In its quest to develop the capacity of journalists to report money laundering and terrorism financing, Mr Edwin W. Harris, Director General of GIABA, said in his address that since 2009, his outfit had organised sensitisation programmes for the media to facilitate the understanding of money laundering and terrorism financing. 

He said the media remained a veritable channel of increasing awareness among the populace on money laundering and terrorism financing.