The three-day meeting brought together policymakers, financial intelligence specialists, security agencies, and international partners to review compliance frameworks and enhance collaboration across West Africa.

Deputy Minister Ampem highlighted that illicit financial flows, money laundering, and terror financing have become major destabilising factors in the sub-region, noting that criminal networks exploit weak border controls, informal cash channels, and emerging digital financial systems.

“These are not just financial crimes. They are moral injustices that rob our countries of development, deny our youth opportunity, and fuel cycles of insecurity,” he said. “The cost of inaction is simply too high.”

Ghana has already implemented key measures, including:

• Passage of the Anti-Money Laundering Act
• Establishment and empowerment of the Financial Intelligence Centre (FIC)
• Roll-out of the National AML/CFT/CPF Policy (2025–2029)
• Targeted risk assessments for virtual assets, non-profit organisations, and environmental crime-linked transactions

Additionally, a unified national response mechanism has been established, bringing together the Ministry of Finance, FIC, Bank of Ghana, Economic and Organised Crime Office, Ghana Revenue Authority, and security services to ensure intelligence sharing and joint operations.

The Deputy Minister also called for greater African representation in global financial governance, stressing that the continent must shift from being mere policy takers to decision-makers in shaping standards affecting its economies. “Africa loses over $80 billion annually to illicit financial flows. We must be decision-makers in the global fight for financial integrity,” he said.

The Joint Experts Meeting will continue with working sessions focusing on enforcement collaboration, digital finance risks, and strategies for strengthening compliance in member states. Participants are expected to release a communiqué outlining priority actions for the next implementation cycle.

BY KINGSLEY ASARE