- April 5, 2018
- Posted by: Phillip Kambafwile
- Category: Latest News
Djibouti, Thursday, 5th April 2018; The COMESA Regional Maritime Security (MASE) programme is holding a workshop on strengthening Anti-Money Laundering systems in Djibouti. MASE is funded by the European Union who have provided 37.5 million Euros for a period of five years to promote maritime security in East and Southern Africa and the Indian ocean region.
Specifically, the workshop is intended to discuss ways of having effective and active information sharing structures among Law Enforcement Agencies and other relevant stakeholders on how to fight money laundering and financial crimes.
Head of Governance, Peace and Security at COMESA Secretariat Ms Elizabeth Mutunga, described money laundering as a vice which affects the political and economic wellbeing of many states. “Money laundering does not yield good fruits. It negatively affects many agencies and stakeholders and this leads to corruption, insurance and bank fraud and customs evasion,” She added. Ms Mutunga was speaking in Djibouti during the opening ceremony of the workshop.
Three other Regional Economic Communities (RECs) namely the Inter-Governmental Authority on Development (IGAD), the East African Community (EAC) and the Indian Ocean Community (IOC) are addressing different components of the MASE programme.
COMESA’s component of MASE is implemented in partnership with the International Police (Interpol). It focuses on building capacity in the ESA-IO region to disrupt financial networks of pirates and their financiers.
COMESA is also working on improving the legal environment and strengthening the capacity of law enforcement agencies to investigate and prosecute financial crimes.