Another GSM company has fallen into trouble with Liberia’s Financial Intelligence Agency (FIA). Like Lone Star cell MTN, Orange Liberia has been slapped with a big fine for allegedly violating the law against money laundering and terrorist financing.
Last month, April 2025, the FIA imposed a fine of Twenty-Five Million Liberian dollars (L$25,000,000) against the Lonestar Cell MTN Mobile Money, Inc. (LCMMMI).FIA Imposes L$25 Million Fine Against Lonestar Cell MTN Mobile Money, Inc. – News Public Trust
And today, Tuesday, May 27, 2025, the FIA issued a press release announcing a L$15 million fine against Orange Money Liberia.
The Financial Intelligence Agency of Liberia (FIA) has imposed a monetary fine of 15-million Liberian dollars against Orange Money Liberia for failure to meet critical and essential Anti-Money Laundering and Countering the Financing of Terrorism…
FIA Press Release
(May 27, 2025) Press Release for immediate publication
FIA Imposes a Monetary fine of L$15 million Liberian Dollars Against Orange Money Liberia for failing to meet critical and essential AML/CFT requirements as provided by Liberia’s AML/CFT Act of 2021
The Financial Intelligence Agency of Liberia (FIA) has imposed a monetary fine of 15-million Liberian dollars against Orange Money Liberia for failure to meet critical and essential Anti-Money Laundering and Countering the Financing of Terrorism, Preventive Measures, and Proceeds of Crimes Act Requirements as provided by Liberia’s AML/CFT Act of 2021.
The Agency’s Risk-based AML/CFT Compliance Inspection details the outcomes of the FIA Risk-based AML/CFT Compliance Inspection of Orange Money Liberia (OML), conducted from September 2 – 13, 2024.
The inspection was a Full scope Risk-based AML/CFT Compliance Inspection with primary objectives of:
- Assessing the adequacies of OML AML/CFT Compliance Programs, including policies, procedures, and control, consistent with the full range of the AML/CFT obligations provided by the AML/CFT Act of 2021.
- Reviewing OML compliance with the Mobile Money Regulations No. CBL/RSD/003/2014, Corporate Governance Regulations for Financial Institutions No. CBL/RSD/001/2012, CBL Risk Management Guidelines, et al; and
- Evaluating the level of Risk inherent with OML’s operations as of September 2, 2024.
Additionally, major violations identified during the FIA Risk-based AML/CFT Compliance Inspections include the following:
- Limited Board oversight of Money Laundering, Terrorist Financing, and Weapon of Mass Destruction (WMD) Risk, in particular, lack of oversight and periodic review of the compliance performance by the Board of Directors (BoDs) with the view of correcting weaknesses, where required.
- Potential breach in the confidentiality requirement of processing and reporting Suspicious Transaction Report (STR) by an extended party; CECOM, within another jurisdiction, which contravene section 15.3.22 (2.b).
- Failure to provide private Liberian investors or Liberian-owned institutions the opportunity to subscribe at least 20% of the capital of OML in violation of Paragraph 5, Section 6 of the Mobile Money Regulation, No. CBL/RSD/003/2014.
- OML AML/CFT Policies and Procedures Manual of 2024 not updated/revised in line with AML/CFT Act of 2021, AML/CFT Regulations for Financial Institutions in Liberia, REGULATION NO. CBL/RSD/002/2017 and the Corporate Governance Regulation for Financial Institutions, REGULATION NO. CBL/SD/001/2012.
- The lack of an appropriate risk management system in place at OML to classify high risk Customers; PEPs, Money Services Business, Casinos, in particular Full Agents/Merchants who are Cash intensive businesses (Supermarkets, wholesale distributors, Forex Exchange, and Money service businesses).
- Ineffective system/mechanism at the full Agents/Merchants level, with “Unlimited Transaction Limits/Threshold”, to monitor, detect, and report suspicious transactions, resulting in extremely low Reporting/submission of STR.
Given the significance of weaknesses in the AML/CFT Control Framework and infractions/violations raised in the FIA Risk-based AML/CFT Compliance Inspection Report; the FIA imposes a monetary fine of fifteen million Liberian Dollars (L$15,000,000.00) against Orange Money Liberia (OML) for failing to meet critical and essential AML/CFT requirements as provided by Liberia’s AML/CFT Act of 2021.
Now henceforth, the FIA instructs the Governance Structure of Orange Money Liberia to:
- Develop an Action Plan with well-defined timelines as part of remediation measures and submit the same to the FIA Monday, June 23, 2025; such action plan must be Approved by the OML Management and Certified by the FIA.
- Ensure that all appropriate measures are put in place to address all deficiencies identified in the FIA Risk-based AML/CFT Compliance Report and mitigate the risk of Money Laundering and Financing of Terrorism and Proliferation of Weapon of Mass Destructions no later than September 1, 2025.
- Therefore, the FIA has instructed Orange Money Liberia to deposit L$15 million Liberian dollars in the Liberian Government escrow account no later than ten (10) working days, commencing today, May 27, 2025, to June 9, 2025.
Meanwhile, the FIA shall take appropriate supervisory actions, where necessary, to ensure that OML Comply with the full range of AML/CFT obligations.
Signed: __________________________________
Communications, Awareness, and Public Education Section
Financial Intelligence Agency of Liberia (FIA)