The Top 10  Most Difficult Countries for Identity Verification

The Top 10  Most Difficult Countries for Identity Verification

Download Report

    n-img-roi-cross

    Before You Go, Schedule Your Free Demo Today

    Valid Invalid number


    Note: Fields marked with an asterisk(*) are mandatory.

    n-exit-img-roi-cross

    Thank you for your demo request

    We appreciate your interest and look forward to discussing how our solution can meet your needs. Expect to hear from us shortly with scheduling details.

    Close

    us

    52.167.144.206

    GIABA to Release Liberia’s AML and CFT Compliance Evaluation Report

    n-img-giaba

    The GIABA has finally released its findings about Liberia’s gains and challenges in the fight against money laundering, financing of terrorists and proliferation financing. 

    GIABA, an institution of the Economic Community of West African States (ECOWAS), released its evaluation report on Liberia’s AML and CFT issues. The appraisers of GIABA interacted with stakeholders from the private and public sectors. 

    In 2010, the evaluation done by ECOWAS proposed the Financial Intelligence Unit’s development which has been converted into the Financial Intelligence Agency.

    Emmanuel T. Gee discussed some issues during the closing program of GIABA’s onsite visit. He said, “The Financial Intelligence Unit now transitioned to the Financial Intelligence Agency of Liberia appreciates the onsite visit, which was conducted by GIABA’s assessors to evaluate Liberia on Technical and effective compliance.”

    He mentioned that Liberians and other nationals should prioritise laws and implementation for anti-money laundering, terrorist, and proliferation financing to stick to FATF standards. 

    During the onsite visit opening session, Justice Minister of Liberia, Cllr. Frank Musah Dean emphasised GIABA’s recommendations that support FATF’s guidelines and other global standards. 

    According to Liberia’s Attorney General, GIABA works with member states and ensures AML law compliance with FATF’s published 40 recommendations for the sake of all countries’ financial systems protection. 

    He said, “You are aware that Liberia underwent its first round of mutual evaluation in 2010. The Country’s performance was unsatisfactory and rated largely noncompliant with FATF Anti-Money Laundering standards.” 

    He continues, “I am pleased to inform you that several legal reforms have been carried out since 2010, especially over the last three years. In execution resolution by GIABA, Liberia conducted, launched, and published its first-ever National Risk Assessment (NRA) in 2011, under the supervision of the National Inter-ministerial Committee on Anti-money laundering and terrorist financing.”

    In 2011, Cllr. Dean said Liberia had developed certain AML and CFT strategies to mitigate NRA’s identified threats, and the country is ready to combat these concerns with a proper action plan. He declared that IMC, the National AML/CFT’s Inter-ministerial Committee, supervises and processes the bills.

    The Liberian Justice Minister said, “The Liberia Anti-Corruption Commission (LACC) sought to amend its Act to align with the high risk of corruption identified in the NRA Report by placing before the Legislature a bill for direct prosecutorial powers to prosecute corruption directly, as opposed to forwarding its findings or recommendations to the Ministry of Justice for action in 90 days, before the LACC can proceed to prosecute if the Ministry of Justice fails to take action.”

    After the conclusion of the first round of evaluation in 2013, GIABA started the second round in 2016. Liberian Attorney General noted that under the second round of the assessment, 14 members, including Liberia, have been evaluated by GIABA. 

    Suggested Read: FATF to Blacklist Myanmar Over Money Laundering Concerns

    Related Posts

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    On Friday, an international financial watchdog committed to securing the global economic system a...

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Explore More

    News

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Explore More

    News

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities

    United States Senate, UAE Government, and Spain Take effective measures to amend current Anti-Mon...

    United States Senate, UAE Government, and Spain Make Significant Efforts to Curb Money Laundering and Terrorist Financing Activities Explore More

    News

    UK Parliament Legislates New Digital Identity Verification Services Bill

    On Wednesday, in the King’s Speech, the UK government presented a new Digital Identity Verificati...

    UK Parliament Legislates New Digital Identity Verification Services Bill Explore More

    News

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks

    Taiwan and Singapore enhance Anti-Money Laundering (AML) regulations for virtual asset service pr...

    Taiwan and Singapore Strengthen AML Regulations for Virtual Asset Providers and Banks Explore More

    News

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively

    Singapore and Europe have emerged with enhanced AML requirements for corporate services businesse...

    Singapore and Europe Enhance AML Framework to Fight Financial Crimes Effectively Explore More

    News

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates

    On Friday, an international financial watchdog committed to securing the global economic system a...

    Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates Explore More

    News

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities

    FINMA, SFC, and MAS fined multiple financial institutions over $1.5 billion for not complying wit...

    FINMA, SFC, and MAS Fine Multiple Financial Institutions Over $1.5 Billion For Money Laundering Activities Explore More

    News

    Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations

    Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...

    Nigeria, Myanmar, and  Türkiye Take Effective Steps to Meet FATF Recommendations Explore More

    News

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings

    International financial watchdogs have imposed a fine of over $500 million on TD Bank, Adelaide C...

    Regulatory Authorities Fines TD Bank, Adelaide Casino, and SBI over $500 Million For AML Failings Explore More

    Take the next steps to better security.

    Contact us

    Get in touch with our experts. We'll help you find the perfect solution for your compliance and security needs.

    Contact us

    Request demo

    Get free access to our platform and try our products today.

    Get started