On Anti-Money Laundering And Countering The Financing Of Terrorism (AML/CFT)
PHOTO: DG of GIABA, Edwin Harris
The Director General of the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), Mr. Edwin W. Harris, Jr. is expected to lead a high-level delegation to Liberia as part of his efforts to engage Liberian authorities and stakeholders on the country’s AML/CFT regime.
The visitation will also enable the delegation to initiate planning processes for the upcoming 44th Plenary and Technical Commission Meeting of GIABA, scheduled for later this year. The delegation, headed by the GIABA Director General, will be in Liberia beginning Monday, August 11, 2025, to Wednesday, August 13, 2025.
Since the adoption of its 2nd Round Mutual Evaluation Report (MER2), Liberia has made some progress towards addressing deficiencies in its AML/CFT/CPF regime. These include the enactment of the Control Drug and Substance Act of 2023; adoptions of beneficial ownership regulation, and the National AML/CFT Action Plan (2024-2028) on August 5, 2024. Other gains are the conduct of sectoral risk assessments; the establishment of the Office of Asset Recovery via Executive Orders No.126 (2024) and No.145 (2025); admission into Egmont Group of FIUs; and resourcing of critical institutions.
While the country was favourably graded at different levels of effectiveness and achievements, it was however placed on Enhanced Follow-Up by GIABA. Therefore, the key objective of this High-Level Advocacy Mission of GIABA to Liberia is to sensitize the political authorities about the planned November 2025 Plenary and to begin preparations for the 3rd round of evaluations. It follows the Second-Round Mutual Evaluation Report (MER2) of Liberia, which was adopted in May 2023.
Liberia’s 3rd round of MER is scheduled for adoption in November 2031. In its preparation for the exercise, the country is required to implement necessary reforms – including revising relevant legal and regulatory frameworks to address outstanding strategic deficiencies in its AML/CFT/CPF regime. These requirements shall extend Money Laundering investigations to foreign predicate offences; criminalization of the financing of a foreign terrorist fighter for the purpose of planning or providing or receiving terrorist training; and establishment of frameworks (legislation, measures or procedures) to implement Targeted Financial Sanctions against Proliferation Financing (TFS-PF)). Other measures expected of Liberia towards the 3rd round of MER include: to identify NPOs at-risk of Terrorist Financing abuse and to take targeted measures to address those risks; to conduct assessment of ML/TF risk associated with all types of legal persons; to adequately supervise designated non-financial business and professionals (DNFBPs) and Financial Institutions (FIs) for compliance; as well as to maintain comprehensive statistics on matters relevant to the effectiveness of the AML/CFT systems, in alignment with recent changes in FATF Standards.
Additionally, the period preceding Liberia’s 3rd round of MER is expected to be characterised by implementation of other required activities, such as building capacity and adequately resourcing critical stakeholders, including the Financial Intelligence Agency (FIA), supervisory authorities and law enforcement agencies; sensitization of relevant stakeholders and mobilizing stakeholders to be fully involved in the Mutual Evaluation (ME) process. These activities are geared towards improving performance on technical compliance, designating a National Coordinator and establishing a national ME Committee to coordinate the country’s response; as well as enhancing collaboration with the GIABA Secretariat. – with efforts targeted at seeking Liberia’s re-rating following Round Three of Mutual Evaluation (MER3).
As part of the mission, GIABA DG, Edwin W. Harris, will meet and hold discussions with high-ranking Liberian Government officials – including His Excellency, President Joseph N. Boakai, GIABA line Ministers (Hon. Ministers of Justice, Finance, and Internal Affairs), Governor of the Central Bank of Liberia, Officer-in-Charge of the FIA; the Inter-Ministerial Committee (IMC); ME National Coordination Team, etc..
Meanwhile, the GIABA 44th Plenary/Technical Commission meeting will take place in Monrovia, Liberia, from November 17-21, 2025.
Consistent with its tradition, the opening session of the Plenary will be graced and addressed by high-profiled government officials, to include His Excellency President Joseph N. Boakai, Sr. and the GIABA three-line Ministers in the country.
In addition to strengthening Liberia’s AML/CFT regime, the hosting of the GIABA Plenary session in Liberia is anticipated to boost the national economy and increase the Country’s global visibility. It can be recalled that Liberia first hosted the GIABA 27th Plenary/Technical Commission in May 2017.