The first quarterly meeting in 2021 between the National Directorate of the BCEAO and the heads of credit institutions focused on strengthening internal mechanisms to combat money laundering and the financing of terrorism (LBC/FT).

The fight against money laundering and the financing of terrorism is taking a new turn in Senegal. The first meeting chaired by Ahmadou Al Aminou LO, National Director of the BCEAO for Senegal, in the presence of the President of the Professional Association of Banks and Financial Institutions of Senegal (APBEFS), Mamadou Bocar Sy, the General Directors of credit institutions or their representatives as well as the Executive Director of

These personalities analyzed the issue of security at the level of the banking system extensively. According to a press release published at the end of the meeting, “'The discussions focused mainly on analysing the recent situation in the banking system in the context of the persistence of the COVID-19 pandemic, as well as on strengthening internal mechanisms to combat money laundering and the financing of terrorism (LBC/FT) by credit institutions

The document informs that credit institutions have reviewed the urgent measures to be taken within them, following the decision taken by the FATF, in February 2021, to place Senegal on the list of countries with so-called “strategic” deficiencies in its LBC/FT system.