By: Kadijatu Bangura, Reporter, D.S.
The European Union (EU) has joined forces with Sierra Leone’s Financial Intelligence Agency (FIA) to launch a critical training program aimed at enhancing the country’s capacity to combat Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).
The initiative, supported by the EU-funded SecFin programme, was inaugurated during a ceremony attended by key government officials, including the Minister of Internal Affairs and the Inspector General of Police.
In his address, Emilio Rossetti, Deputy Head of the EU Delegation to Sierra Leone, emphasized the detrimental impact of illicit financial flows on national development, stating, “Illicit financial flows are corrosive forces that drain national budgets, fuel corruption and insecurity, and deprive your people of the basic conditions for a dignified life.” He highlighted that Africa loses an estimated $89 billion annually to these flows, a figure that rivals the total inflows of official development assistance and foreign direct investment combined.
The EU’s support focuses on strengthening Sierra Leone’s institutional frameworks and enhancing inter-agency coordination to effectively trace, investigate, and recover illicit assets. Rossetti further noted that “robust Anti-Money Laundering and Countering the Financing of Terrorism frameworks are essential” to combat serious crimes such as corruption, drug trafficking, and terrorism financing. Sierra Leone faces significant challenges, including a large informal economy, porous borders, and under-resourced enforcement agencies.
The EU has affirmed the need for improved implementation of AML and CFT measures, particularly in high-risk sectors like non-bank financial institutions and designated non-financial businesses. Rossetti pointed out that mutual cooperation and international assistance are crucial in tackling these transnational crimes. “No single country can win that battle alone,” he stated, advocating for a coordinated approach that leverages technology and intelligence sharing.
As part of the SecFin initiative, the EU, along with Germany and France, aims to bolster Sierra Leone’s operational capacity in financial crime investigations. Specific goals include supporting the FIA’s accession to the Egmont Group, which would facilitate international intelligence exchange, and enhancing inter-agency cooperation across the AML/CFT chain.
The training program is expected to equip investigators and analysts with practical tools to detect and disrupt financial crime, contributing to a brighter future for Sierra Leone’s children. Rossetti concluded, “I wish you all a fruitful and enriching experience, one that will strengthen your professionalism and your resolve to fight the crime that is stealing the future of Sierra Leone’s children.”
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