AYV News, May 23, 2025
The Financial Intelligence Agency (FIA) has concluded a two-day stakeholders’ workshop on the development of a National Strategy and Action Plan for Anti-Money Laundering, Counter Terrorist Financing and Counter-Proliferation Financing at the Galliness Hotel conference room in Bo City.
The event brought together specialists from various institutions working with the FIA to discuss and map an effective framework to combat money laundering and other financial crimes.
The Deputy National Security Coordinator, Dr. Ahmed Sannoh, said the meeting aimed to draft Sierra Leone’s first National Strategy and Action Plan for Anti-Money Laundering, Counter-Terrorist Financing, and Counter-Proliferation Financing.
The initiative, according to him, signified a strong commitment to combating financial crimes that threaten economic prosperity and national security.
Dr. Sannoh warned that financial crimes, such as money laundering and terrorist financing, undermine financial stability and public trust while providing resources for organized crime and terrorism.
He highlighted the link between financial crimes and national security threats, citing studies by the Financial Action Task Force (FATF) that show how terrorist groups exploit weak financial systems.
He noted that Sierra Leone’s vulnerabilities, including porous borders and a cash-dominated economy, necessitate a strategic response. He said the security sector should lead efforts against these threats, leveraging its intelligence, investigative skills, and enforcement capabilities for a comprehensive approach that ensures cooperation among agencies.
David Bobor, the Director General of the Financial Intelligence Agency, in his opening remarks, said the gathering represented a united front and a strengthened commitment to a matter of utmost national importance. He added that the development and diligent implementation of a National Strategy for Anti-Money Laundering and combating the Financing of Terrorism (AML/CFT) is a clear testament to their collective determination to protect Sierra Leone’s financial system and contribute to a safer, more secure future for the nation.
Mr. Bobor underscored that formulating a comprehensive, forward-looking, and effective AML/CFT strategy is not just an administrative requirement but also a fundamental pillar of national sovereignty and economic integrity.
“In an era marked by rapid technological advancement and increasingly sophisticated criminal networks, the threats posed by money laundering and terrorist financing are dynamic and ever-present,” he noted.
The FIA boss pointed out that these illicit activities have the potential to “erode our economic foundations, undermine good governance, fuel corruption, and present significant security risks”.
He urged everyone to prioritise strengthening the country’s defences as an urgent and ongoing concern, which is critical for fostering sustainable development, maintaining an attractive investment climate, and upholding Sierra Leone’s respected position within the international community.
Mr. Bobor acknowledged that his institution is fully aware of the existing challenges, particularly the notable deficiencies in their existing AML/CFT regime. He said their shared focus on identifying these deficiencies and their unwavering efforts to ensure that Sierra Leone meets and exceeds global best practices imbue the workshop with a sense of urgency and purpose.
“This National Strategy will serve as our meticulously charted course, clearly outlining our strategic objectives, operational priorities, and the decisive actions that will be collectively undertaken to fortify our nation against the scourge of financial crimes,” Mr Bobor emphasised.
He said they will focus on continuously enhancing their legal and regulatory arsenal to ensure that the country’s legislative and regulatory instruments are fully compliant with international best practices.
The process, he went on, will involve a rigorous review and proactive update of our existing framework. He said the Agency will continue to fortify national coordination and synergy, adding that the fight against financial crime demands a whole-of-government approach deeply integrated with the private sector vigilance.
He said the strategy must therefore break down silos and foster enhanced seamless cooperation and real-time intelligence sharing among key institutions such as the FIA and others dedicated to the fight, and also deepen their understanding of risk for proactive mitigation.
He noted that the dynamic and granular resource settlement will remain central to their strategic approach, with a clear understanding of their specific vulnerabilities, which allows for the judicious allocation of resources and implementation of precisely targeted risk mitigation methods.
The Overseas Criminal Investigator, United States Embassy Sierra Leone, Christin Hale, said that coming from the security and law enforcement side, they support countries with capacity building in their financial investigative systems. She said they do that mostly through law enforcement agencies on specialities such as passport, visa fraud, fraudulent documents detection and human trafficking, which all play a role in the money laundering space.
She said the workshop will allow them to learn and ensure they provide the necessary training fit for purpose in Sierra Leone.
In his keynote address, Attorney General and Minister of Justice Alpha Sesay referenced the new Anti-Money Laundering, Combating the Financing of Terrorism, and Financing the Proliferation of Weapons of Mass Destruction Act of 2024. He underlined the efforts of the Financial Intelligence Agency (FIA) in ensuring safety in Sierra Leone and providing regional leadership against transnational crime.
“We are only safe when others around us are safe,” the Attorney General noted, describing money laundering and terrorist financing as tangible threats that undermine trust and national development. Mr Sesay affirmed his office’s dedication to creating a supportive regulatory environment and pursuing the prosecution of related crimes while ensuring transparency and accountability.
