Ghana’s Compliance with ICRG of the FATF Action Plan

In September 2019, Ghana met with the International Cooperation Review Group (ICRG) of the Financial Action Task Force (FATF) to present its progress report on activities undertaken on its 2-year Action Plan developed to improve and ensure the effectiveness of its AML/CFT regime.

Ghana reviewed and amended the findings and recommendations of the risk assessment on legal persons and arrangements, conducted money laundering typology study, developed Terrorist Financing Guidance document for Accountable Institutions, initiated steps to implement the beneficial ownership register and clarified the issues surrounding the cross border currency declaration among others.

The ICRG noted that Ghana was on course with the implementation of the Action Plan and encouraged Ghana to continue with the good work to ensure that all the action items are addressed before December 2020.

 

 

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