Côte d’Ivoire hosts GIABA’s 45th technical commission for financial crime fight

The Côte d’Ivoire is set to host the 45th plenary session of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA) from May 18 to 23, 2026, alongside the 31st meeting of its ministerial committee. The opening ceremony took place in Cocody, with key figures including financial crime experts, representatives from CEDEAO member states, technical and financial partners, and international observers in attendance.

This regional gathering, organized in partnership with the Côte d’Ivoire government, serves as a critical platform for evaluating and aligning anti-money laundering and counter-terrorism financing (AML/CFT) policies across West Africa. During the plenary, delegates will review progress reports from member states in the second cycle of mutual evaluations, alongside typology studies by the Risk, Trends, and Methods Working Group (RTMG), updates from the Financial Intelligence Units Forum (FCRF), and technical assistance initiatives for participating nations.

Speaking on behalf of the Minister of Economy, Finance, and Budget, the Minister of Construction, Housing, and Urban Planning, Moussa Sanogo, reaffirmed Côte d’Ivoire’s commitment to strengthening regional financial crime prevention frameworks. “The country is fully aware of its responsibility and role in West Africa. Under President Alassane Ouattara’s leadership, we have chosen to act with method, determination, and transparency,” he stated.

He highlighted ongoing structural reforms to align national systems with the Financial Action Task Force (FATF) standards, noting that despite the evolving sophistication of transnational criminal networks, progress remains promising. The minister emphasized the need for stronger sub-regional cooperation to counter emerging financial crime threats. “No single country can succeed alone. Our effectiveness depends on information sharing, mutual trust, and sustained political will,” he added, calling money laundering a “battle for development, economic stability, and peace.”

Sanogo also underscored the importance of financial system integrity in boosting economic attractiveness for West African states and safeguarding both domestic and foreign investments.

Hafsat Abubakar Bakari, Chair of GIABA’s Technical Commission, praised Côte d’Ivoire’s advancements in financial governance and data interoperability for AML/CFT efforts. She noted significant technical progress across member states, driven by legislative reforms and modernized Financial Intelligence Units.

However, she warned of rising challenges posed by emerging technologies, such as generative AI, deepfakes, and synthetic identities, which criminals exploit to bypass traditional customer due diligence (KYC) protocols. “Our detection systems, reporting rules, and investigator training must evolve to address these new threats,” she stressed.

Bakari also called for greater transparency around beneficial ownership—a key focus of GIABA’s third-cycle mutual evaluations. She commended recent progress by member states like Burkina Faso, Mali, and Nigeria, which have exited the FATF’s grey list, while urging continued technical support for Côte d’Ivoire to expedite its own exit.

The session is expected to produce actionable recommendations to fortify AML/CFT mechanisms in the CEDEAO region, amid intensifying security and technological threats in West Africa.