Sections
DONATE
SUPPORT WWW.JOLLOFNEWS.COM
Account Login
GIABA report alleged corruption in The Gambia
Friday, 30 July 2010 23:36
By Yaya DamphaSource: The Daily IIJ
“Public corruption is perceived to be high in The Gambia as the country is ranked 106 of 180 nations in Transparency International’s 2009 Corruption Perception Index,” The Inter- Governmental Action Group Against Money Laundering in West Africa (GIABA) has said in its 2009 report, launched in Banjul on Friday 30 July 2010.
GIABA reports say Gambia has signed the African Union Convention on the Prevention and Combating of Corruption but it is yet to sign the UN Convention Against Corruption. Though the country has put in place laws criminalizing corruption, these laws are not effectively implemented as no specific government agency is responsible for combating corruption and public officials are not subjected to financial disclosure requirements.
In an overview and synopsis of money laundering and terrorist financing (ML/TF) GIABA examines the economic indicators and the potential risk factors; such as the prevalence of cash transactions; predicate offences such as drug trafficking, corruption and tax evasion.
The findings, which also examine the relevant ML/TF infrastructure, including legal and institutional frameworks and the involvement of civil society, indicated that in The Gambia, proceeds of crime are mainly derived from drug trafficking, bribery and corruption, the tourism industry, foreign exchange transactions, and other related acquisitive crimes.
The findings are included in the 2009 Annual Report of GIABA highlighting the prevailing Anti- Money Laundering and Counter Terrorism Financing (AML/CFT) in each Member State of ECOAWS and the level of execution of activities and programmes undertaken by GIABA during the period under review.
Like the previous report, the 2009 report said the laundering of illicit money is increasingly a major problem in The Gambia. However, “its magnitude or severity remains relatively difficult to determine.” It added that porous borders, weak controls, prevailing poverty, dominance of cash transaction, poor Know Your Customer compliance culture, massive inflows of tourists and anecdotal evidence of increasing drug-related and other criminal activities are all factors contributing to increase money laundering risk environment in The Gambia.
“The Gambia is vulnerable to the activities of organized crimes and drug trafficking,” The Gambia Drug Control Agency stated in its 2007 Annual Report, adding that the number of arrests of drug traffickers had increased since 1986.
The drug agency report indicated the magnitude and trends of drug trafficking in The Gambia, saying that about 1, 270kg of drugs were seized from 54 cases reported in 2007 and offences range from possession to trafficking in drugs and narcotic substances such as cannabis, cocaine, and hashish.
The region’s money laundering watchdog said banking, foreign exchange transactions, trading in money market instruments such as cheques, bills, certificates of deposits, and commercial papers of oneself or for the account of customers; trading in transferable or negotiable instruments; the tourism industry; and the real estate are most vulnerable to money laundering.
In order to combat money laundering and the financing of terrorism, The Gambia has developed a legislative and institutional framework through the enactment of the Money Laundering Act 2003; the Anti-Terrorism Act 2003; the Financial Institution Act 2003; and the Drug Control Act 2003. Though the country has enacted the Anti-Money Laundering Act (ML Act) in 2003 in which 13 offences were designated as predicate offences for money laundering, this, GIABA said, falls short of the minimum 20 designated categories under the FATF Recommendations.
The report also highlighted that The Gambia Government has taken steps to prevent its financial system from being misused as a conduit for the transfer and retention of illicit funds, nonetheless GIABA argued that the various agencies involved in Anti-Money Laundering activities have not been allocated adequate resources.
The Gambia has not experienced any terrorist attack and none has been launched from within the country. However, intelligence reports indicate that the country is vulnerable to terrorism given its location in the Saharan region surrounded by countries that terrorists have used in the past to launch attacks, GIABA warns.
For the Director General, Dr. Abdullahi Shehu, the challenge for GIABA and individual governments across West Africa in implementing an effective AML/CFT regime requires significant resources, in terms of finance and expertise.
He said such resources can often be stretched thin, “given the multitude of other pressing imperatives that governments face and allocation must be carried out efficiently.”
In the context of fighting against money laundering and terrorist financing, he said resources must be apportioned first to those areas most in need for improvement and in accordance to relative risk.
“Such a judgment requires in-depth knowledge not only of the vulnerability of an area to money laundering but also the threat, especially, of the nature of the predicate crimes and activities from which illicit funds are derived and of the way in which criminals seek to launder it,” the GIABA Boss said.
Jollofnews Poll
Who do you think should be the next President of The Gambia?
Follow us on Twitter
-
Anti-cuts protest at Clegg's homeUp to 100 anti-cuts protesters gather outside Deputy Prime Minister Nick Clegg's home in south-west...
-
Islamist and ex-PM vie for mantle of Egypt's revoltCAIRO (Reuters) - The Muslim Brotherhood and a military man identified with the police state...
-
Bristol Rovers Speed Merchant Could Be Racing To Posh(GamSports) – Peterborough United are thought to be one of a number of Championship sides...
Comments
A Chief Executive, a General,or even a football captain. The position commands..authority.
It requires respect, it demands leadership..by example.That example must lay the ground rules....to become the role model and the policy maker.
"follow my leader"
To kick out corruption..their must be
TRANSPARENCY.
allied to ACCOUNTABILITY.
auditing,must expect questions,PROBI TY.
How can the Speaker of The National Assembly sanction all government and non government offices and institutions to declare....annual accounts...without calling on The President to lead by example...and declare...
His Turnover for the year.
His Expenditure.
His net income.
His net profit.
His Taxation requirement by Law
and how much he has left over to give to the people.
And...were his accounts audited and approved and signed off by Inland Revenue.
Mike Scales,
you have raised quite a very improtant point there... I want to believ that Gambian, Lamin and the others will agree with it as it will put them in a better position to brush off all accusations, especially from the likes of Bajaw... Lamin, what do you think?
President Jammeh donates all his profits to the people.
Thats marvelous..I'm impressed.
But can we see a set of accounts please?
and could that include a full audit of all his assets, wealth, income and taxs paid?
Such a generous fellow should be truly exhalted !!!!
Comment
This task’s huge & difficult to tackle for the fact that those in charge & supposed to be responsible for checks, like yaya & Ensa Badjie, etc, are themselves indulgent & culprits. Can’t see how ‘witches’ can be entrusted with hospital full of sick & newly born babies?
...cont...
...cont...
RSS feed for comments to this post.