The first quarterly meeting of 2021 between the National Directorate of the BCEAO and the heads of credit institutions focused on strengthening internal mechanisms to combat money laundering and the financing of terrorism (AML/CFT).

The fight against money laundering and terrorist financing is taking a new turn in Senegal. The first meeting chaired by Ahmadou Al Aminou LO, National Director of the BCEAO for Senegal, in the presence of the President of the Professional Association of Banks and Financial Institutions of Senegal (APBEFS), Mamadou Bocar Sy, the Managing Directors of credit institutions or their representatives as well as the Executive Director of APBEFS.

According to a statement issue issued at the end of the meeting, " the exchanges focused mainly on the analysis of the recent situation of the banking system in the context of the persistence of the pandemic in COVID-19 as well as on the strengthening of internal anti-money laundering and terrorist financing (AML/CFT) mechanisms of credit institutions".

The document informs that credit institutions have reviewed the urgent measures to be taken within them, following the decision taken by the FATF, in February 2021, to place Senegal on the list of countries with so-called "strategic" deficiencies in its AML/ FT'.