Lubango - Money laundering and terrorist financing represent threats to the stability of countries, which is why they need a strong and coordinated response, defended the governor of Huíla, Nuno Mahapi, in Lubango on Monday.
Speaking at the opening of the 47th Meeting of Senior Experts of the Eastern and Southern Africa Anti-Money Laundering and Counter-Terrorist Financing Group (ESAAMLG), the governor stressed the important to ensure that institutions are equipped with the necessary resources to prevent, detect and punish all those who seek to benefit from illicit activities.
According to the governor, the meeting represents a "valuable" opportunity to strengthen cooperation and exchange knowledge in the joint fight against these scourges that threaten the security and development of the countries.
Money laundering is the process by which the perpetrators of criminal activities hide the origin of ill-gotten assets and income (advantages), transforming the liquidity resulting from these actions into legally reusable capital, by concealing the origin or the true owner of the funds.
More than 800 delegates from ESAAMLG member countries and representatives of Nations and Cooperation and Support Organizations are meeting in Lubango to discuss issues related to efforts to combat money laundering and terrorist financing in the region.
The ESAAMLG, created in 1999, is a regional body made up of 21 member countries dedicated to combating money laundering and the financing of terrorism and the proliferation of weapons of mass destruction in East and Southern Africa, based on the FATF Recommendations and other international instruments defined to combat financial crimes. MS/DAN/AMP
