The National Lottery Authority here recommits to fighting Anti-Money Laundering and terrorism financing in the gaming sector in Liberia.
By: Naneka Hoffman
Monrovia, Liberia; August 18, 2025 – The newly appointed leadership of the National Lottery Authority (NLA) has reaffirmed its commitment to enforcing Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) compliance across Liberia’s gaming sector.
Speaking during an acquaintance meeting at the Financial Intelligence Agency (FIA) Headquarters in Congo Town, Officer-in-Charge, Mohammed A. Nasser, emphasized that all gaming operators must establish formal boards of directors.
He noted that such boards will be tasked with appointing independent compliance managers, who will operate with full oversight responsibilities.
“All gaming entities must disclose their ultimate beneficial owners to prevent anonymity in financial dealings,” Nasser said, stressing that proper documentation of market entry and licensing controls by the NLA is essential.
He lauded President Joseph N. Boakai, and the Cabinet, for approving the national workplan for the implementation of a Beneficial Ownership Registry in line with international standards.
Nasser also highlighted the need for gaming institutions to adopt risk-based compliance programs tailored to their operations, customer profiles, and exposure to money laundering risks.
He urged operators to report all transactions exceeding designated thresholds to the FIA to ensure greater scrutiny of large cash flows.
The discussions centered on strategic priorities under the AML/CFT framework, with emphasis on strengthening compliance and enhancing intelligence-sharing between the two regulatory bodies.
Nasser welcomed the strengthened partnership, noting: “The NLA and FIA play pivotal roles in protecting the gaming sector, and this renewed cooperation will lead to more effective enforcement, intelligence gathering, and compliance oversight.”
The two institutions agreed on a roadmap for joint training, coordinated inspections of gaming operators, and streamlined information-sharing protocols aimed at identifying and addressing suspicious activities.
The meeting, which marked the beginning of a stronger operational partnership, was attended by NLA Director General, Peter L. Solo; Deputy Director General for Lotto Games and Chair of the NLA AML/CFT Compliance Unit, Richlue O. Burphy, and FIA Officer-in-Charge, Mohammed A. Nasser. Editing by Jonathan Browne
