Côte d’Ivoire hosts GIABA’s 45th anti-money laundering summit

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, drawing experts, representatives from ECOWAS member states, technical and financial partners, as well as international observers.

This regional gathering, organized in partnership with the Côte d’Ivoire, serves as a pivotal platform for evaluating and aligning anti-money laundering and counter-terrorism financing (AML/CFT) policies across West Africa.

During the session, delegates will review mutual evaluation follow-up reports for several member states under the second assessment cycle. Discussions will also cover typology reports from the Risks, Trends and Methods Working Group (RTMG), activities of the Financial Intelligence Units Forum (FCRF), and technical assistance mechanisms designed to support member countries.

Speaking on behalf of the Minister of Economy, Finance, and Budget, Moussa Sanogo, Minister of Construction, Housing, and Urban Planning, emphasized Côte d’Ivoire‘s commitment to strengthening regional financial crime prevention systems. He stated, “Under President Alassane Ouattara’s leadership, our nation has prioritized systematic, determined, and transparent action to combat illicit financial flows.”

Sanogo highlighted ongoing structural reforms aimed at aligning Côte d’Ivoire‘s national framework with Financial Action Task Force (FATF) standards, noting encouraging progress despite the evolving tactics of transnational criminal networks.

He underscored the critical need for enhanced sub-regional cooperation, stating, “No single country can succeed in isolation. Our effectiveness hinges on information sharing, mutual trust, and unwavering political will.” He framed anti-money laundering efforts as essential for economic development, stability, and peace.

The minister also stressed the importance of financial system reforms to boost economic attractiveness and secure both domestic and foreign investments in West African states.

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

However, she warned of emerging threats from advanced technologies, including generative AI, deepfakes, and synthetic identities, which criminals exploit to bypass traditional Know Your Customer (KYC) procedures. Bakari urged delegates to adapt detection systems, reporting rules, and investigator training to these new challenges.

She also emphasized the need for greater transparency around beneficial ownership, a key focus of GIABA’s third mutual evaluation cycle. Bakari commended recent progress by Burkina Faso, Mali, and Nigeria, which have exited the FATF grey list, while encouraging continued technical support for Côte d’Ivoire to accelerate its own exit.

The summit is expected to yield actionable recommendations to bolster mechanisms for preventing, detecting, and suppressing illicit financial flows across the ECOWAS region, amid escalating security and technological threats in West Africa.