The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) is organising a capacity building workshop for prosecutors of economic and financial crimes from the West Africa sub region.

The seminar which will hold in Abuja on Monday 23rd and Friday 25th May, 2011 is being organised to assist ECOWAS member states to effectively implement anti-money laundering and counter-financing terrorism (AML/CFT) measures.

According to the organisers, money laundering and the financing of terrorism severely undermine sustainable development by eroding social and human capital, threatening social and political stability, causing an artificial rise in the cost of business, and driving away investment. It noted that all these consequently undercut the ability of States to initiate or accelerate meaningful economic development. “The proceeds of crime fuel corruption, which in turn facilitates the commission of crimes and undermines the rule of law,” it states.

It further states that efforts on anti-money laundering and combating the financing of terrorism (AML/CFT) are aimed at deterring criminals from using the financial system to launder their criminally derived funds and at making it easier for law enforcement agencies to apprehend the perpetrators and penalize them. Thus, international standards on AML/CFT require countries to empower competent authorities/personnel to deprive criminals of their illicitly acquired assets with or without proof of the predicate crime.

According to GIABA, prosecutors play a pivotal role in the fight against money laundering and terrorist financing, particularly in the area of mutual legal assistance, application for freezing, seizure and confiscation of proceeds of crime. It noted that it is, therefore, pertinent to build the capacity of prosecutors to facilitate the effective implementation of AML/CFT measures in the region, taking into cognisance the numerous challenges being faced by prosecutors in West Africa.

The objectives of the workshop are to upscale the expertise of prosecutors in prosecuting money laundering, financial crimes, terrorist financing, and related criminal activities and to make appropriate and effective use of asset forfeiture; develop and improve the skills and technical capacities of prosecutors; share experiences; and provide practical tools to further international forfeiture cooperation.

The workshop will be delivered by technical experts with extensive working experience in AML/CFT issues through hands-on case reviews, syndicate group works, and presentation of country experiences. It will cover planning a prosecution, collecting evidence, using mutual legal assistance, presenting evidence in financial crime cases, dealing with financial crime issues and money laundering issues, and recovering the proceeds of crime.

Expected at the opening ceremony are high level officials of the Federal Republic of Nigeria, representatives of AML/CFT stakeholder institutions and the media.

It is expected that the workshop will lead to increase in the number of trained and knowledgeable prosecutors on AML/CFT issues in the region; increase in the number of successful prosecutions for ML/FT related offences; help build the capacity of prosecutors to facilitate the effective implementation of AML/CFT measures in the region and globally; facilitate improved coordination and cooperation between prosecutors and other stakeholders (law enforcement; judges; etc) involved in the fight against ML/FT; and lead to reduction in crime through the implementation of a robust AML/CFT regimes in the region.