The Financial Intelligence Unit of Liberia (FIU) has announced the completion and publication of the National Risk Assessment Report (NRA) on Money Laundering and Terrorist Financing in Liberia.
Speaking at a press conference on Tuesday, September 28, 2021, in Monrovia, FIU Boss Edwin Harris said, the completion of the report is the first of its kind in Liberia. According to him, the NRA report is poised to provide stakeholders and the general public, and the world at large the risks Liberia faces when it comes to money laundering and terrorist financing.

The major outcome of the NRA report portrays Liberia’s money laundering risk as high in the Financial Sector as well as the Designated Non-Financial Business Professional (DNFBPs). The report also reveals that Liberia’s terrorist financing risk is at a lower level.
Mr. Harris stated that with the completion and publication of the NRA report on money laundering and terrorist financing, the FIU will launch an Anti-Money Laundering Policy, Strategy, and Action Plan on mitigating the risks relating to money laundering in Liberia.

As mandated under recommendation one of the Financial Action Task Force (FATF), forty plus recommendations that countries should identify and understand their risks. The FIU according to its boss will distribute over 300 hard copies of the NRA report to all stakeholders and partners in October 2021. The FIU Man informed the financial sector that, the Financial Institutions and Designated Non-Financial Business Professional (DNFBPs) will be required to use the NRA report on money laundering and terrorist financing as a guide in mitigating the risks of money laundering in their respective sectors.

Mr. Harris said, the Liberia working group on the second round of mutual evaluation will host series of activities to include focus group discussions, Town Hall meetings, and outreach to all stakeholders in the Anti-Money Laundering and Countering Terrorist Financing Regime in Liberia. He announced that the NRA report on money laundering and terrorist financing can be downloaded on the following institution’s websites; FIU, Central Bank of Liberia, LRA, EMISSION, Ministry of Finance and Development Planning, Liberia Extractive Industries Transparency Initiative (LEITI), GAC amongst others.