Money Laundering, Terrorism Financing, and Proliferation Financing Risk Assessments (ML/TF&PF) are global phenomena that have gained recognition in recent times, a report by the Bank of Ghana titled 'Anti-Money Laundering/Combating the Financing of Terrorism & the Proliferation of Weapons of Mass Destruction (AML/CFT&P) guidelines, for Foreign Exchange Bureaux' has said.
The report said that indeed well-documented evidence indicates that ML/TF&PF pose major threats to international peace and security which could seriously undermine Ghana's development and financial stability.
Consequently, it said, Ghana has made concerted efforts to address ML/TF&PF risks.
The enactment of the Anti-Money Laundering Act, 2008 (Act 749); Anti-Money Laundering (Amendment) Act, 2014 (Act 874); Anti-Terrorism Act, 2008 (Act 762); Anti-Terrorism (Amendment Act), 2012 (Act 842); Anti-Terrorism (Amendment Act), 2014 (Act 875); Anti-Money Laundering Regulations, 2011 (L.I.1987) and the subsequent passage of the Anti-Money Laundering Act, 2020 (Act 1044) has intensified Ghana's efforts towards the fight against Money Laundering, Terrorism Financing and Proliferation Financing (ML/TF&PF).
