Abidjan, Côte d’Ivoire – From May 18 to 23, 2026, the West African country will host the 45th technical plenary session of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), alongside the 31st meeting of its ministerial committee. The opening ceremony took place this Thursday in Cocody, bringing together financial crime experts, representatives from ECOWAS member states, technical and financial partners, as well as international observers.

Regional strategy to combat financial crime and terrorism financing

Organized in partnership with the Ivorian government, this high-level gathering serves as a pivotal forum for evaluating anti-money laundering (AML) and counter-terrorism financing (CTF) policies across West Africa. Participants will review progress reports from multiple member states as part of the second round of mutual evaluations, while also analyzing typology reports produced by the Risks, Trends, and Methods Working Group (RTMG). Discussions will further explore the activities of the Financial Intelligence Units Forum (FIUF) and technical assistance mechanisms available to member countries.

Ivorian commitment to financial integrity under scrutiny

Moussa Sanogo, representing the Minister of Economy, Finance, and Budget, highlighted Côte d’Ivoire’s unwavering dedication to strengthening regional financial crime prevention frameworks. Speaking on behalf of the government, he emphasized the country’s strategic role in West Africa’s fight against illicit financial flows under President Alassane Ouattara’s leadership.

”Côte d’Ivoire recognizes its critical responsibility in this regional battle. With deliberate action, transparency, and resolve, our nation is fully committed to aligning national systems with international standards,” he stated.

Sanogo acknowledged ongoing challenges posed by rapidly evolving transnational criminal networks but stressed that recent structural reforms have yielded encouraging results. He underscored the urgent need for deeper cross-border cooperation, noting that no single country can combat financial crime in isolation.

”True effectiveness demands shared intelligence, mutual trust, and sustained political will. Combating money laundering isn’t just about financial security—it’s a fight for economic stability, development, and peace,” he asserted.

The minister also emphasized that cleaning up financial systems is essential to boosting West African states’ economic appeal and safeguarding both domestic and foreign investments.

GIABA highlights emerging threats and regional progress

Hafsat Abubakar Bakari, Chair of GIABA’s Technical Commission, praised Côte d’Ivoire’s strides in financial governance and interoperable AML/CTF data systems. She noted significant technical advancements across member states, driven by updated legislation and modernized Financial Intelligence Units.

However, she warned of escalating threats from cutting-edge technologies, including generative AI, deepfake scams, and synthetic identities—tools increasingly exploited by criminals to bypass traditional customer due diligence (CDD) checks.

”Our detection systems, reporting rules, and investigator training must evolve to counter these new risks,” she urged.

Bakari also stressed the importance of transparency around ultimate beneficial ownership (UBO), a key focus of GIABA’s third-round mutual evaluations. While celebrating recent successes—such as Burkina Faso, Mali, and Nigeria exiting the Financial Action Task Force (FATF) grey list—she called for continued technical support to help Côte d’Ivoire achieve the same.

Toward unified action against illicit financial flows

The week-long session will conclude with actionable recommendations to bolster prevention, detection, and enforcement mechanisms against illicit financial flows within the ECOWAS region. This comes at a time when West Africa faces intensified security and technological threats, demanding urgent and coordinated regional responses.