Acting Head of Communication and Advocacy, Intergovernmental Action Group against Money Laundering (GIABA), Mr Timothy Melaye, says money laundering in West Africa has reduced.
Melaye, who also is the Head of the Nigerian Office, GIABA, made this known in an interview with the News Agency of Nigeria (NAN) on Tuesday in Cotonou, Benin.
He said that with the creation of awareness on money laundering and terrorism financing, more people were now conversant with the crime.
“Today, because of the level of awareness and engagement, if you want to buy a house and your salary does not correspond, then the person who is selling the house, has the responsibility, as a real estate agent, to file a report.
“Also, the bank has the responsibility to file suspicious transaction reports, and that report will commit the law enforcement to investigate.
“So, because of all these measures, we have seen a drastic reduction in money laundering and terrorism financing activities,” he said.
He noted that GIABA was, however, discovering new ways criminals were operating with a view to creating new measures to combat the risks.
Melaye also said that GIABA was committed to carrying out several researches to inform the different law enforcement agencies of its activities.
