MBABANE:Neal Rijikernberg,the eSwatini Minister of Finance has expressed the Kingdom’s commitment to strengthening it’s AML/CFT framework when officially opening the 4th Southern African Development Community(SADC) Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Committee Meeting.
An AML/CFT framework is a comprehensive set of rules and measures designed to prevent and combat money laundering and the financing of terrorism, which includes criminalizing these activities, imposing preventive requirements on businesses, and establishing strong domestic and international cooperation.
But key elements involve the creation of a legal framework, implementing a risk-based approach for customer due diligence, reporting suspicious activities and having strong enforcement and supervision mechanisms.
The two(2) day meeting led by the Ministry of Finance in collaboration with the Eswatini Financial Intelligence Unit (EFIU) and coordinated by SADC, brings together representatives from the SADC Secretariat, ESAAMLG Secretariat, and Member States.
Eswatini hosting SADC Anti-Money Laundering and Counter Financing of Terrorism Commitee Meeting, Finance Minister Neal Rijikernberg expresses country’s commitment to strengthening financial intelligence(pic:Gov).