Delegation of the European Union to Armenia

Organized Crime: West African Response to Money Laundering and The Financing of Terrorism (OCWAR – M)

07/01/2019 - 15:00
Regional overview

The overall objective of this project is to achieve the reduction of money laundering and the financing of terrorism in the ECOWAS region.

Objectives:

RIP: Priority Area 1; Specific objective 2: Support for regional initiatives to address the main threats to peace, security and stability; 

Component 1–Strengthening coordination and cooperation in security;

Component 4 – Implementation of programmes to deal with other specific threats facing the region. 


 
Specific objective:

GIABA and ECOWAS member states to adopt and effectively implement AML/CFT measures of acceptable international standards in order to improve the regional operational capacity.


 
Expected results: 

Result 1: ML/TF risks are well understood by ECOWAS MS and actions better coordinated domestically to combat money laundering, terrorist financing and proliferation.  
 
Result 2: ECOWAS MS are able to achieve high level of compliance and are implementing effective and robust AML/CFT regimes in line with international standards.   

Result 3: Domestic and international cooperation facilitating information sharing and the delivery of quality financial intelligence are improved as well as the capacity of competent authorities that pursue actions against criminals and their assets.   

Result 4: GIABA's own operational capacity is better understood and managed by its officers and accepted by ECOWAS MS. 

 


Status:

Contracting phase

 

Source of funds: 11th EDF (CRIS ref: 2017/040-388)

EU Contribution (EUR): 8M

Implementation period:  2018 - 2022

Implementation agencies:  EU MS Agency (EFI TBC)

Geographical region: West Africa

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