Ghana FIC cautions non-profit organisations against money laundering and terrorism persuasions

The Financial Intelligence Centre (FIC), has underscored the need for non-profit organisations (NPOs) to resist all forms of local and international persuasions to engage in money laundering and terrorism activities.

It said money laundering, terrorist organisations and NPOs have very different objectives, but often relied on similar logistical capabilities; funds, logistics, human resource and public influence as their key resources to perpetuate impunity.

Terrorist organisations seek the same resources to further their cause, which makes NPOs vulnerable for abuse by terrorists or terrorist networks, Mr Emil Meddy, Manager of FIC had cautioned.

He gave the caution at the Central Regional stakeholders’ forum on the NPO Draft Bill 2021, in Cape Coast on Monday.

The forum sought to solicit inputs from stakeholders to make recommendations to the proposed bill for the benefit of its members.

The Bill seeks to among others to either maintain its Secretariat as a central authority responsible for the sector to coordinate the activities of all NPOs in Ghana or turn it into a Commission.

The Bill also provides an operational definition of an NPO, to establish a regulatory body to promote independence, integrity and good governance practices.

It will ensure NPOs became a force to social and economic development, partner in nation building and an ally to consolidate Ghana’s democratic governance.

It was jointly organized by the NPOs Secretariat under the Ministry of Gender, Children and Social Protection (MoGCSP) and sponsored by the Ministry, Financial Intelligence Centre and Deutsche Gesellschaft Fur Internationale Zusammenrabeit (GIZ).

The FIC was established by section 4 of the Anti-Money Laundering Act, 2008 (Act 749) as amended with the mandate to assist in the identification of proceeds of unlawful activity, combat money laundering activities, terrorism financing, proliferation of weapons of mass destruction and any other transnational organized crime.

It also collaborates with revenue authorities to combat tax evasion and other tax crimes.

“We should commit ourselves as a board to help fight and avoid the menace of money laundering with its attendant economic, political and social implications.”

Giving an overview of the Bill, Mr Dela Ashiagbor, Head of NPO’s Secretariat, rallied the unalloyed support of all partners to fully support the ongoing deliberations on the NPO Draft Bill 2021, to ensure accelerated national development.

Some participants praised the MGCSP and partners for the engagement and the opportunity to make informed inputs into the Bill.

Source: GNA

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