Sierra Leone FIU appeals for technical, financial support for Liberia FIU

The Director-General of the Sierra Leone Financial Intelligence Unit or FIU, David N. Borbor, has appealed to political authorities in Liberia to continuously provide financial and technical support to their country’s Financial Intelligence Unit and other entities that are combating money laundering and terrorist financing.

Speaking to the media on Monday, October 11, 2021, Mr. Borbor elaborated that Liberia needs the passage of the new FIU Act by the Legislature and regular financial support from every political actor to help improve the country’s image after the second round of mutual evaluation by the Intergovernmental Action Group Against Money Laundering in West Africa ( GIABA).

According to him, the recent publishing of the National Risk Assessment Report (NRA) by Liberia FIU is laudable and timely to help the country become successful in technical compliance and other 40 plus recommendations outlined by the Financial Action Taskforce (FAFT) and GIABA, ahead of the second round of mutual evaluation.

He wants robust collaboration and coordination from all competent authorities that are working with Liberia FIU to prevent and fight illicit financial practices that are posing serious threats to Liberia’s financial system and image.

The Sierra Leonian FIU boss promised that his country is prepared to provide professional mentoring support and pieces of advice for Liberia, coupled with other lessons learned before the GIABA evaluation of Liberia early Next year (2021).

Mr. Borbor also announced the signing of a joint communique to create that workable partnership between Liberia and neighboring Sierra Leone that aimed at preventing and combating cross borders illicit financial trades.

Also speaking, Edwin W. Harris, the Director-General of Liberia FIU, welcomed his counterpart to Liberia and expressed readiness to fulfill every useful component in the communique that is expected to be signed this week in Monrovia between the two FIUs that are members of the Economic Community of West Africa States (ECOWAS).

He renewed calls for straight adherence to every anti-money and countering terrorist financing regulations by every institution and individual in Liberia.

According to him, national compliance in all sectors in Liberia could greatly help to improve the country’s image and prestige, thus attracting sustainable investors and investments.https://thenewdawnliberia.com/us-envoy-wants-adequate-financial-support-for-liberia-fiu/