The Finance Minister, Dr. Cassiel Ato Forson, has expressed Ghana’s commitment to ensuring adequate resources, including financial, technical, and logistical, for the implementation of the national Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF Policy)
According to him, the policy will protect the economy from the scourge of money laundering, terrorist financing, proliferation financing and transnational organised crime for the enhancement of national and global economic stability and growth.
His assertion was captured in the 2025-2029 Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT/CPF Policy) report.
He said over the years, Ghana continues to demonstrate that combatting money laundering and terrorist financing is a national priority with the view to protect not only Ghana, but also to lend Ghana’s experience with the global community in dealing with these activities, including its effective implementation of prevention and detection mechanisms in the context of Ghana, the West African sub-region, Africa and the international community.
He added that in response to the emerging ML/TF/ PF threats, the Financial Action Task Force (FATF), in collaboration with the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) continues to work to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
Recommendation 2 of the revised FATF Recommendations (2012) requires countries to develop national AML/CFT/CPF policies, informed by the risks identified, which should be regularly reviewed, and designate an authority or have a coordination or other mechanism that is responsible for implementing such policies.
It also requires countries to ensure that policymakers, the Financial Intelligence Unit (FIU), Law Enforcement Agencies (LEAs), Supervisors and other relevant competent authorities, at the policymaking and operational levels, have effective mechanisms in place to enable them cooperate and where appropriate, coordinate domestically with each other concerning the development and implementation of policies and activities to combat Money Laundering, Terrorist Financing and the Financing of Proliferation of Weapons of Mass Destruction (ML/TF &P).
The Finance Minister concluded that an effective AML/CFT/CPF regime is the cornerstone of every country’s ML/TF/PF risk governance.
The 2025-2029 National AML/CFT/CPF Policy is therefore expected to comprehensively address the major structural vulnerabilities identified in the National Risk Assessment (NRA) and sectoral risk assessments, which would lead to a robust AML/ CFT/CPF regime in Ghana.
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