ETHIOPIA: Financial Services’ role in Anti-money laundering/Trafficking of Human Beings-10-11/02/20

What: Ethiopia National Training on role of Financial services on anti money laundering and counter trafficking of human beings

Where: Bishoftu, Ethiopia

When: 10-12 February 2020

Who: 34 Participants (banking sector’s risk and compliance officers, senior financial analysts, legal affairs and financial analysis officials)

Context:

Effective Anti-Money Laundering and financial investigation interventions are important instruments to identify and disrupt criminal networks and financial operations that further deter criminals and their networks.

The fight against money laundering, human trafficking and migrant smuggling, and other related crimes requires effective engagement of the financial services and other relevant stakeholders. Operational cooperation and coordination between the different public and private institutions is essential to successfully fighting human trafficking, migrant smuggling and protecting the integrity of the financial system. Understanding and disrupting the financial flow of criminals through effective AML measures and financial investigations is vital in disrupting the criminal networks and their financial flow. Additionally, effective financial analysis and investigation are key tools in producing evidence and actionable intelligence.

To this end, the AML/THB project, organized this training workshop on the in Ethiopia, aimed at strengthening the capacity of the financial sector in financial analysis, identification and disruption of financial flows of criminal networks.

Objectives

At the end of the training, the participants were expected to;

• Have better understanding of human trafficking and smuggling, the modus operandi of the criminal networks and their financial flows, both nationally and regionally
• Better understand money laundering, specifically, the flow and proceeds of human trafficking and smuggling in Ethiopia
• Be equipped with the basic skills of financial analysis
• Better understand the role of financial institutions in detecting and disrupting financial flows of criminal networks
• Exposed to and share experience experiences with other participating financial institutions, thus enhancing understanding and collaboration

Feedback/Review

The overall feedback was positive. Participants expressed appreciations and satisfaction with the training, with a request for a similar training to be given to other financial institutions like microfinance, insurance schemes and other institutions which are susceptible to flow of criminal finance.