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ICPC, EFCC chiefs, others task anti-money laundering body on service
- By Bola Olajuwon - posted on Monday 29th June 2009 IN the face of global economic meltdown, members of Association of Certified Anti-Money Laundering Specialists (ACAMS) have been urged to champion the course of compliance towards promoting stability of financial and designated non-financial institutions by strengthening the prevention and detection of money laundering.
The call was made by Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Justice Emmanuel Ayoola (rtd), his Economic and Financial Crimes Commission (EFCC) counterpart, Mrs. Farida Waziri and Executive Director of ACAMS, Mr. Gregory Calpakis, at the inauguration of the Nigeria chapter of the ACAMS in Lagos at the weekend.
According to them, the members of ACAMS can only achieve the association's set objectives by implementing the global anti-money laundering laws.
Ayoola, who was represented by an official, Fateemah Mohammed, said no law enforcement agency could afford to ignore or underestimate the grave dangers posed by money laundering to the national economy.
He said that money laundering oils the wheels of crime since "it is the end product of all criminal enterprises, be it drug or human trafficking, advance-fee-fraud, economic and financial crimes, public corruption, among others."
He added that an effective partnership between all the major stakeholders in the campaign is imperative. He said the ICPC is looking forward to a fruitful partnership with ACAMS in the campaign against corruption and all other related crimes.
Also, Waziri in her address read at the launch by EFCC's Head of Operations, Lagos Office, Mr. Zubair Muazu, said the launch of the chapter was a commendable initiative in view of the momentous positive impact it would have on the professionalisation of compliance and implementation of Anti-Money Laundering (AML/CFT).
She said for the law enforcement agencies, particularly the EFCC, whose mandate includes the combating of money laundering and terrorism financing, the coming on board of ACAMS would broaden the network and knowledge of those involved in the fight against economic and financial crimes.
The EFCC boss pledged to give the anti-money laundering specialists the necessary support in the discharge of their responsibilities.
CAMS executive director, while urging the members of new association to be on top of developments in their areas of specialisation, said: "For many countries in West Africa, there is a great need to demonstrate that preventative measures are in place to prohibit the proceeds of crime from entering into the legitimate financial systems of the region.
"The many-faceted challenge of preventing money laundering and terrorist financing requires a multi-pronged approach of education, networking and co-operation and an ACAMS local chapter is the perfect conduit."
He said the parent body is ready to co-operate with the Nigerian chapter in training and retraining of members.
News Source: Guardian
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