80 officers trained on terrorist, proliferation financing

MBABANE - The Central Bank of Eswatini (CBE) successfully hosted training on terrorist financing, proliferation financing and targeted financial sanctions on February 19-23, 2024.

The training that was well attended was facilitated by two experts from the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), Chris Likomwa and Kennedy Mwai. The training was part of the country’s efforts to address the deficiencies raised by the assessors from the ESAAMLG in their 2022 report. The assessors noted the need for raising awareness and educating relevant stakeholders on terrorist financing and there was slow implementation by financial institutions in relation to targeted financial sanctions.

Delay

Targeted financial sanctions require financial institution to freeze, without delay (in a matter of hours, but not more than 24 hours), funds from or to terrorists or terrorist groups that are meant to support terrorist activities. The terrorists, terrorist group and countries proliferating weapons of mass destruction are listed in the resolutions issued by the United Nations Security Council.

Participating in the training were 80 officers from the public and private sectors including the Anti-Corruption Commission, Attorney General’s Chambers, Central Bank of Eswatini, Director of Public Prosecutions and Assets Forfeiture Unit and the Eswatini Financial Intelligence Unit, to name a few. The Governor of the Central Bank of Eswatini, Dr Phil Mnisi, in his capacity as the Chairperson of the council, welcomed the participants. He encouraged the participants to actively engage the facilitators. The facilitators educated the participants about different resolutions issued by the United National Security Council and the participants learnt about the country’s risk exposure.