While speaking at a training session for heads of delegation at GIABA meetings, the Director-General of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), Kimélabalou Aba, insisted, Tuesday, on the importance of mutual evaluations in the fight against money laundering.

According to Kimélabalou Aba, GIABA is responsible for the implementation of the FATF Standards in all 17 member states (the 15 ECOWAS countries and two non-regional countries that are the Union of the Comoros and the Democratic Republic of Sao Tome and Principe). In 2016, GIABA began the second round of mutual evaluation using the revised FATF Standards. The evaluation cycle for the 17 GIABA member countries is 05 to 06 years. Mutual evaluation requires a versatile team with different skills, expertise and experience and is expected to be completed in 2022.

Unfortunately, kimélabalou Aba points out, to date, GIABA has only been able to conclude 10 mutual evaluation reports, while two more are expected to be discussed during the May 2022 Plenary. These challenges are mainly the result of structural failures related to the lack of human capital to undertake mutual evaluations and related issues.