The Faculty of Finance and the Financial Intelligence Center will tomorrow March 21, 2024, hold a conference on financial crime.

The conference is designed to provide participants with a comprehensive understanding of the fundamentals of money laundering and terrorism financing, its implications, and the strategies employed to combat them.

It will delve into various aspects of money laundering and terrorism financing, including definitions and typologies, the key stages, and the legal and regulatory frameworks governing anti-money laundering (AML) and combating the financing of terrorism efforts. Additionally, it will explore case studies and real-world examples to illustrate the practical application of the concepts discussed.

Need for the training

Money laundering and terrorist financing are worldwide issues affecting many nations. They have damaging effects on the real economy, the financial sector and society at large. Due to this, there are increased efforts to fight this menace globally.

The training is important because it educates participants and for that matter the public about money laundering and terrorism financing. Institutions exposed to money laundering and terrorist financing can then raise red flags when they suspect activities relating to this menace.

It also highlights the various anti-money laundering and combating the financing of terrorism measures and the role of stakeholders in the fight against these illicit acts.

Structure of the training

The training is designed to take place over two days.

Themes to be covered including understanding money laundering and terrorism financing, types of money laundering and institutions exposed to money laundering, dangers of money laundering and terrorism financing in Ghana, global measures to combat money laundering and terrorism financing and meeasures in Ghana to curb money laundering and terrorism financing.