Côte d’Ivoire hosts GIABA’s 45th anti-money laundering session in Abidjan
Côte d’Ivoire hosts GIABA’s 45th anti-money laundering session in Abidjan
Abidjan, Côte d’Ivoire — Between May 18 and 23, 2026, Côte d’Ivoire is hosting the 45th technical and plenary session of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), alongside the 31st meeting of its ministerial committee. The opening ceremony took place this Thursday in Cocody, bringing together experts, representatives from ECOWAS member states, technical and financial partners, as well as international observers.
This regional gathering, organized in partnership with the Ivorian government, serves as a key strategic platform for assessing and coordinating policies aimed at combating money laundering and terrorist financing (AML/CFT) across West Africa.
Key discussions and evaluations during the session
During this plenary meeting, experts will review progress reports from several member states under the second round of mutual evaluations. The discussions will also cover typology reports developed by the Risk, Trends, and Methods Working Group (RTMG), activities of the Financial Intelligence Units Forum (FCRF), and technical assistance mechanisms for member countries.
Côte d’Ivoire’s commitment to financial crime prevention
Speaking on behalf of the Minister of Economy, Finance, and Budget, the Minister of Construction, Housing, and Urban Planning, Moussa Sanogo, reaffirmed Côte d’Ivoire’s dedication to strengthening the regional framework against financial crime.
”Côte d’Ivoire fully recognizes its responsibility and role in the subregion. Under the leadership of President Alassane Ouattara, our nation has chosen to act with method, determination, and transparency,” he stated.
The government representative highlighted that structural reforms have been implemented to align the national system with the Financial Action Task Force (FATF) international standards. While progress has been encouraging, the rapid evolution of transnational criminal networks continues to pose challenges.
He emphasized the need for stronger subregional cooperation to address emerging forms of financial crime, noting that ”no country can succeed alone. Our effectiveness depends on information sharing, mutual trust, and sustained political will.” He further stressed that combating money laundering is also ”a fight for development, economic stability, and peace.”
The minister underscored that cleaning up financial systems is essential to enhance the economic attractiveness of West African states and secure both domestic and international investments.
GIABA’s assessment of regional progress and future challenges
As Chair of the GIABA Technical Commission, Hafsat Abubakar Bakari commended Côte d’Ivoire’s efforts in financial governance and interoperability of AML/CFT data.
She noted significant technical advancements in several member states, driven by improved legislative frameworks and modernized Financial Intelligence Units.
However, she warned participants about emerging threats tied to advanced technologies, including generative artificial intelligence, deepfakes, and synthetic identities—tools increasingly used by criminal networks to bypass traditional customer due diligence (KYC) procedures.
”Our detection systems, reporting rules, and investigator training must evolve to counter these new threats,” she urged.
The Commission Chair also stressed the importance of enhancing transparency around the beneficial owners of legal entities—a critical focus of the third round of mutual evaluations. She praised recent progress made by countries like Burkina Faso, Mali, and Nigeria, which were recently removed from the FATF gray list, while encouraging GIABA to continue providing technical support to Côte d’Ivoire to expedite its own exit from the list.
This regional meeting is expected to yield actionable recommendations aimed at strengthening mechanisms for preventing, detecting, and suppressing illicit financial flows within the ECOWAS space, amid intensifying security and technological threats in West Africa.
