Cameroon sets up committee to fight money laundering, terrorist financing, proliferation of weapons

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money laundering
money laundering

Cameroon’s President Paul Biya on Monday night signed a decree for establishing a committee against money laundering, terrorist financing and proliferation of weapons of mass destruction.

The committee has a mandate to formulate and coordinate the implementation of policies and activities aimed at combating the criminal activities nationwide, Biya said in the decree.

“(The committee) shall make proposals for the drafting of appropriate regulations for combating money laundering, terrorist financing and proliferation of weapons of mass destruction in accordance with international guidelines … and conduct risk assessments and formulate the national strategy for combating (the vices),” Biya said.

Officials said that the establishment of the committee could uncover underground banking crimes lawfully, dismantle criminal organizations and gangs, block illicit fund channels, and stop the proliferation of weapons in the country’s Northwest, Southwest and Far North regions, which are experiencing prolonged armed conflict.

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