News
EU removes Ghana from high-risk money laundering list
The European Union (EU) has removed Ghana from the bloc’s high-risk third countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regimes.
The EU took the decision after Ghana strengthened the effectiveness of its AML/CFT regime by addressing related technical deficiencies, a press statement issued by the Ministry of Finance, and copied to the Ghana News Agency, said.
It said Ghana had also strengthened its legal and regulatory framework to meet the commitments in the Financial Action Task Force (FATF) action plan, with a view of removing strategic deficiencies identified under the Article 9 of the 4th Anti-money Laundering Directives.
It said Ghana also established legal and regulatory frameworks to meet the commitments in the country’s action plans regarding the strategic deficiencies the FATF had identified.
The EU, in May 2020, added Ghana to their list of high-risk jurisdictions with strategic deficiencies in their AML/CFT regimes because Ghana was on the FATF Grey List.
Ghana’s removal from the list was contained in a letter dated 07 January 2022, signed by Commissioner Mairead McGuiness, in charge of Financial Services, Financial Stability and Capital markets Union, the statement said.
It said the letter commended Ghana for its continuous efforts in strengthening its framework for the combat against money laundering and terrorist financing.
The Ministry said the Head of the European Union Delegation to Ghana, Irchad Razaaly, in his introductory letter, also commended Ghana for achieving the milestone.
By dint of hard work and political commitment, Ghana addressed all the action items in the action plan even ahead of schedule, the statement said.
“This is an example of what we can accomplish when we work together towards addressing systemic issues that confront our country” Mr Ken Ofori-Atta, Minister of Finance, said while commending all stakeholders.
Mr Ofori-Atta said the country, being the headquarters of the African Continental Free Trade Area (AfCFTA), was guided by a vision of establishing the country as the financial services destination for the Africa Region, and would work diligently to achieve that vision.
Source: skyypowerfm.com
Mahama leads NDC to mourn with Kufuor over wife’s passing
Former President John Dramani Mahama on Wednesday, October 4 led a delegation from the National Democratic Congress (NDC) to visit...
Former First Lady of Ghana Theresa Kufuor reported dead
The former First Lady of Ghana and wife of Ghana’s former President, John Agyekum Kufour, Mrs Theresa Kufuor has been...
The most powerful tool for change is the right to vote – Mahama
The 2024 flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, is rallying Ghanaains who have grown disillusioned with...
PFJ was a mere state resource looting platform – Minority
The Minority has descended heavily on the Akufo-Addo-led government for launching a second phase of the flagship Planting for Food...
ECOWAS is desecrating Ghana
The Director of Legal Affairs of the National Democratic Congress (NDC), Mr Abraham Amaliba has said the Economy Community of...
Prof Gyampo elected President of UTAG, University of Ghana branch
A Senior Lecturer at the Political Science Department of the University of Ghana (Legon), Prof Ransford Gyampo have been elected...