The Côte d’Ivoire is set to host the 45th technical and plenary session of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), alongside the 31st ministerial committee meeting, from May 18 to 23, 2026. The opening ceremony took place this Thursday in Cocody, bringing together financial crime experts, representatives from ECOWAS member states, technical and financial partners, as well as international observers.
This regional gathering, organized in partnership with the Ivorian government, serves as a critical platform for assessing and coordinating strategies to combat money laundering and terrorist financing (AML/CFT) across West Africa. Participants will review progress reports from several member states as part of the second round of mutual evaluations, alongside typology reports from the Risks, Trends and Methods Working Group (RTMG). Discussions will also cover the activities of the Financial Intelligence Units Forum (FCRF) and technical assistance mechanisms for member countries.
Representing the Minister of Economy, Finance and Budget, Moussa Sanogo, Minister of Construction, Housing and Urbanism, underscored Côte d’Ivoire’s commitment to strengthening the regional framework against financial crime. “Côte d’Ivoire fully recognizes its responsibility and role in the subregion. Under President Alassane Ouattara’s leadership, our country has chosen to act with method, determination and transparency,” he stated.
The Ivorian government representative highlighted ongoing structural reforms aimed at aligning the national system with the Financial Action Task Force (FATF) international standards. While progress has been encouraging, he noted the rapid evolution of transnational criminal networks. “No single country can succeed alone. Our effectiveness depends on information sharing, mutual trust and unwavering political will,” he emphasized, adding that combating money laundering is also a fight for development, economic stability and peace.
He further stressed that cleaning up financial systems is essential to enhance the economic appeal of West African states and secure both domestic and foreign investments.
GIABA’s Technical Commission Chairperson, Hafsat Abubakar Bakari, commended Côte d’Ivoire’s advances in financial governance and data interoperability for AML/CFT efforts. She noted significant technical progress among member states through improved legislative frameworks and modernized Financial Intelligence Units. However, she warned about emerging challenges posed by new technologies, such as generative AI, deepfakes and synthetic identities, which criminals exploit to bypass standard KYC procedures.
“Our detection systems, reporting rules and investigator training must evolve to counter these threats,” she urged. Bakari also emphasized the need to enhance transparency around the beneficial owners of legal entities, a key focus of GIABA’s third round of mutual evaluations.
She praised recent progress by countries like Burkina Faso, Mali and Nigeria, which have exited FATF’s grey list, while encouraging continued technical support for Côte d’Ivoire to expedite its own exit from the list.
The regional meeting is expected to yield actionable recommendations to strengthen mechanisms for preventing, detecting and combating illicit financial flows within the ECOWAS space, amid escalating security and technological threats in West Africa.
