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Capacity Building of Customs Officials: An Exercise to Better Combat Money Laundering

26/02/2020
Source : La Nation
Categories: Rate

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Around fifty officials from Beninese Customs have been taking part since Tuesday, February 25 in Cotonou, in the national workshop to combat cross-border physical transport of cash and bearer negotiable instruments. Organized by the International Action Group against Money Laundering in West Africa (Giaba), this workshop aims to build the capacity of the customs administration in Benin. "Money laundering represents a serious danger for the economy and the well-being of any nation", indicated the representative of the Director General of Customs, Menacon Amoussou during the launch of the work of the national workshop to fight against transport physical transactions of cash and bearer negotiable instruments. To fight against this international phenomenon, important measures have been taken by international organizations and governments by encouraging the development of financial and banking services. Unfortunately, despite the growing development of new payment methods in even the most developed economies, deplores the representative of the National Financial Information Processing Unit (Centif), Serge Houédanou, cash still remains an important means of payment in the whole world. Its circulation is estimated by a study conducted by the Financial Action Task Force (FATF) at 4,000 billion dollars and between 46% and 82% of all transactions in all countries. Studies conducted by FATF and other international organizations show that most border customs services inspect less than 5% of all goods shipments entering or leaving their territory. In addition, most of these customs services are limited in targeting and identifying cash couriers. In order to resolve this very important problem, which is becoming widespread throughout the world, the FATF has devoted Recommendation 32 to the phenomenon. This recommendation sets out the measures that countries must put in place to detect and prevent cross-border physical transport of illicit funds in cash or bearer negotiable instruments. These various measures will be shared with agents of the Benin Customs administration in order to make it a benchmark in the fight against illicit cross-border physical transport of cash and bearer negotiable instruments in the sub-region. . It will be a question of putting in place the necessary tools for better coverage of Benin's borders in order to effectively fight against the illicit cross-border physical transport of cash and bearer negotiable instruments that feed criminal networks. It will also involve strengthening the operational capacity of customs officers to adequately control cross-border cash movements and equipping officers with techniques to monitor, detect and intercept illegal cash movements. conducting parallel financial investigations of money laundering and/or terrorist financing, on the one hand, and building the capabilities of officers to disrupt transnational criminal groups through fund seizures and related follow-up investigations, on the other go. And finally, build the capacity of customs officers on international best practices to detect and prevent illicit cross-border physical transportation of cash. Because, insists Menacon Amoussou, money laundering, a process by which the criminal origin of funds is concealed by ensuring that this money acquired illegally appears acquired legally and this, by introducing it into a regular economic circuit , represents a serious danger to the economy and well-being of any nation.

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