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The Interior Minister of Ghana has called for youth empowerment to help fight against money laundering in the country. 

According to Mr. Ambrose Dery, the youths form a critical segment of the population that a country cannot afford to neglect in the fight against money laundering and terrorist financing, hence  should be encouraged to lead in the fight against this canker.

“The youth of today should be empowered to lead in the fight against this menace. The youth should be responsible, and be positioned to lead a more fruitful life in a safe and conducive environment in order to help build the national economy. Let me use this opportunity to thank the GIABA officials for organizing this workshop for our country and we look forward to receiving more of such programmes.”

He also urged to the youth to acquire the necessary skills and knowledge to prevent them from falling victims or becoming perpetrators of crimes saying “the youth amongst others can do the following; Acquiring the necessary knowledge and skills to prevent them from unwittingly falling victim to fraud, or even become perpetrators themselves. Being cautious of unsolicited offers of easy money. For the Students and Researchers, the field of AML/CFT is an area to consider in research studies”.

“Notwithstanding the fact that anyone can be used as conduit in one way or the other for money laundering, many youngsters are unaware of the devastating consequences that fraud can have on their future opportunities.

“In this era of technological advancement, criminals via social media are recruiting a rising number of teenagers to help them launder the proceeds of crime. Distinguished Ladies and Gentlemen, you may recall that Ghana was recently taken off from the Financial Action Task Force Grey list on money laundering. Distinguished Guests, to consolidate this gain, the role of the young people in the prevention and fight against money laundering and terrorist financing in Ghana cannot be downplayed.”

The Ghanaian youth is confronted with a range of decisions relating to their future. 

Key among them are pursuing further education, gaining employment and starting a business. 

Consistent with young people’s quest to fulfill their ambition, the search for financial resources becomes indispensable.

To maintain the integrity of our financial system, a credible framework for preventing and fighting money laundering and terrorist financing is essential.

Mr. Dery highlighted some roles of the financianl action task force in the combat of money laundering and terrosit Financing stating “the Financial Action Task Force is an intergovernmental organization founded in 1989 on the initiative of G7 countries to develop policies to combat money Laundering. In 2001 its mandate was expanded to include terrorism financing. 

“The Financial Action Task Force set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.”

He stated these in a speech read on his behalf at the 13th edition of a forum on ML/FT for youth in Ghana in Accra yesterday.

It was organized by the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA) and aimed at mobilizing the youth against organised crime including ML/FT.

It also sought to provide an opportunity for the youth to embark on advocacy by helping to disseminate anti-money laundering/counter terrorism financing messages to peers and political decision makers.

The programme was under the theme “The role of young people in the prevention of and the fight against money laundering and terrorist financing”.

The participants were from Universities and youth groups among others.

Mr. Dery commended GIABA for the initiative and assured them of Ghana’s support to help achieve their goals.