29 Aug 2023

The Botswana Institute of Banking and Finance (BIBF) and Financial Intelligence Agency (FIA) will co-host a conference on Anti-Money Laundering/Combating the Financing of Terrorism/Combating Financing of Proliferation (AML/CFT/CFP) to preserve the integrity of Botswana’s financial system and prevent illicit financial flaws.

The two-day conference will be held in Gaborone on September 21–22, 2023 under the theme, “Effective Implementation of the AML/CFT/CFP Measure: A Responsibility for All”.

Briefing the media on Tuesday, acting managing director of BIBF, Mr Molaodi Menyatso, said the theme underscored the importance of the participation of all stakeholders in the fight against money laundering, terrorism financing, and proliferation financing.

“The main objective of the conference is to raise awareness among AML/CFT/CFP stakeholders in the country and the public on their role in the fight against money laundering, terrorism financing, and proliferation financing,” he said.

Mr Menyatso said the conference was intended to serve as a resource for policy formulation, particularly in addressing issues such as identification of current and future money laundering, terrorism financing, and proliferation financing techniques, and key areas of threats and vulnerabilities in the economy.

He said the conference would focus on assessment of the adequacy and consistency of the AML/CFT/CFP legal, institutional, and operational frameworks.

Mr Menyatso said focus would be on policy measures and action-oriented programmes that could be adopted to effectively mitigate the risks of money laundering, terrorism financing, and proliferation financing.

He said there would be emphasis on the cooperation and coordination of public and non-public bodies in containing the risks of money laundering, terrorism financing, and proliferation financing.

Meanwhile, FIA Director of Legal and Compliance, Ms Diana Moabe, disclosed that the Eastern and Southern African Anti-Money Laundering Group (ESAAMLG) was expected to participate in the conference, and would update on the regional state of compliance to AML/CFT/CFP regulations.

Ms Moabe said ESAAMLG would also apprise on Botswana’s AML/CFP/CPF compliance status.

She explained that Botswana exited the EU grey list in 2021, and emphasised the need for all parties to play their role for the country to remain compliant and stay outside the grey list.

Some of the entities that are expected to make presentations at the conference include Bank of Botswana, Real Estate Advisory Council, Gambling Authority, Non-Bank Financial Institutions Regulatory Authority, Law Society of Botswana, Registrar of Societies, and Botswana Institute Chartered Accountants. ENDS