A workshop on fighting the ill with its effects within CEMAC held in Yaounde recently.

The Bank of Central African States (BEAC) has stressed the need for member countries of the Central African Economic and Monetary Committee (CEMAC) to effectively apply laid down texts on the prevention and fight against money laundering and the financing of terrorism in the sub-region.

After four-days of deliberations in an information-sharing and capacity-building workshop in Yaounde (September 16-19) on the stakes and challenges of the ill (the process of changing large amounts of money that have been gained through illegitimate means), and how it could be combated, stakeholders prayed for synergy. They recommended collaboration and concertation between member countries and competent authorities in the fight against the destroyer both at national, sub-regional and international levels.

According to the Governor of BEAC, Lucas Abaga Nchama during the closing ceremony, surveillance control will be stepped up and detection computer software procured. The Action Group against Money Laundering in Central Africa, (GABAC), whose role is to lead, coordinate and boost actions undertaken by CEMAC member States and the various national agencies for financial investigations against the phenomenon, he said, would need to redouble their efforts for efficiency.