Faith-based organisations have been identified as potential conduits for money laundering and terrorist financing, the Financial Intelligence Centre (FIC) has cautioned.

According to the FIC, some launderers channel their illicit wealth into the formal economy through unsolicited huge loans, offerings, and donations made to religious institutions.

A representative of the FIC, Mr Kofi Boakye, disclosed this in an interview during the National Sensitisation Seminar for Religious Leaders and Institutions on Anti-Money Laundering and Countering Terrorist Financing (AML/CFT) held yesterday in Accra.

The two-day event, organised by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA), was aimed at raising awareness about the effects of money laundering and terrorist financing (ML/TF) in the West African region. It was attended by more than 35 religious leaders from various denominations.

Mr Boakye explained that money laundering was the “act of cleaning dirty money into clean money.” He noted that the church had become vulnerable to such practices, as individuals often use religious platforms to legitimise illicit funds.

“A church may have a member who suddenly joins and begins to offer large sums of money or unsolicited loans. Once the money gets into the church, the person might negotiate repayment terms that involve receiving cheques or bank transfers instead of cash — effectively legitimising the money,” he said.

He urged religious leaders to conduct due diligence and background checks on members who offer substantial financial support or loans for church projects.

“If you are not sure, the authorities are there for you to consult,” he advised.

Delivering a speech on behalf of the Attorney-General and Minister for Justice, Dr Dominic Akuritinga Ayine, the Director of Public Prosecutions, Mrs Yvonne Atakora Obuobisa, reaffirmed government’s commitment to implementing international standards on anti-money laundering and counter-terrorism financing (AML/CFT).

She said Ghana had established a strong legal framework to combat financial crimes and was actively strengthening institutional cooperation in that regard.

The Acting Principal Officer of GIABA, Mr Timothy Melaye, noted that the seminar series for religious leaders on AML/CFT began in 2017, and this was the second edition held in Accra.

He explained that the initiative sought to educate faith-based institutions on how money laundering occurs and their role in preventing it.

Participants, he said, would be taken through topics including overview of AML/CFT, the role and mandate of GIABA, implementation of AML/CFT measures in Ghana, and the role of religious bodies as influential anti-corruption institutions.