Africa Needs Tough Anti-Laundering Laws

Officially opening a council of ministers meeting of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) in Gaborone on Friday, Financial Action Task Force (FATF) president, James Sassoon said: "Consistent application of recognised international standards is essential if we are to ensure that criminals and terrorists do not have access to the financial system and to the resources they need to survive and grow".

ESAAMLG met in Gaborone to evaluate anti-money laundering country reports, a process that helps the regional body to evaluate the extent to which member states comply with the FATF standards, and where possible assist those members that are failing to meet the international standards in the fight against money laundering and terrorism.