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Ken Ofori-Atta, Minister of Finance
Below is a statement from the Ministry of Finance challenging the reasons for Ghana's inclusion by the EU in its country. list of countries with strategic weaknesses in the fight against money laundering and terrorist financing.
RESPONSE FROM THE MINISTRY OF FINANCE TO THE LIST OF COUNTRIES WITH STRATEGIC AML / CFT DEFICIENCIES OF THE EUROPEAN COMMISSION
Accra, Tuesday 19 February 2019 …… Ghana regrets the decision of the European Commission (EC) of 13 February 2019 to add Ghana to its list of countries with strategic shortcomings in the fight against terrorism. money laundering and financing. Terrorism (AML / CFT). Ghana's commitment to strengthen the evolution of its AML / CFT framework has been recognized by the Financial Action Task Force (FATF), the global standard-setting body for AML / CFT.
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2. We consider that the methodology used by the EC is flawed, as there has been no communication with Ghana regarding gaps to be improved. As a result, Ghana has not had the opportunity to respond or the time to implement corrective measures, which is the norm. We therefore consider that the decision is premature and seek its annulment. Our request is supported by the fact that:
• The FATF and its regional-style bodies, including the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), periodically evaluate the AML / CFT regime of the member states. organizing mutual evaluation exercises;
• Ghana successfully pbaded the second round of mutual AML / CFT badessments and became the first country in the West African subregion to complete the second round of the evaluation process. the report was adopted by the GIABA Ministerial Committee (GMC) at its May 2017 meeting;
• Following the discussion of the Ghana Mutual Evaluation Report by the FATF at its October 2018 plenary meetings, the FATF identified certain strategic deficiencies in the country's AML / CFT framework and worked with Ghana to develop an action plan to address this problem. Indeed, Ghana is currently working with the FATF to effectively implement the plan of action; and
• Ghana met twice with the FATF's International Cooperation Review Group (ICRI). On January 17, 2019, Ghana had a second face-to-face meeting in Dubai, UAE, with the ICRG to discuss progress of the implementation of the action plan and has received positive feedback from the ICRG. The FATF, discussing the country's progress in addressing identified strategic deficiencies, also acknowledged Ghana's high-level political commitment to work with the FATF and GIABA to enhance the effectiveness of its AML / CFT regime.
3. The European Commission's blacklist of Ghana, therefore, does not reflect the current state of Ghana's AML / CFT regime. This is regrettable, and the Ghanaian authorities are willing to discuss with the Commission the true status of the country's AML / CFT regime and efforts to strengthen it and remove Ghana from their list of countries with strategic deficiencies in the country. their AML / CFT framework. . END
ISSUED BY THE PUBLIC RELATIONS UNIT, MINISTRY OF FINANCE
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