Fifteen staff members from the Ethiopian Financial Intelligence Center (FIC) participated in a training on the multi-faceted role of financial intelligence units in strengthening the country’s anti-money laundering and countering the financing of terrorism (AML/CFT) capacities held in Addis Ababa.
The two-day training was facilitated by Mr. Dev Bikoo, Director General of the Mauritius Financial Intelligence Unit. Presentations focused on the role of the FIC in issuing guidelines for implementation to reporting entities, monitoring compliance, record keeping and information management, as well as the importance of international exchanges of information through regional organizations such as the Egmont Group. Ato Gemechu Weyuma Lulesa, Director General of the FIC, provided welcoming remarks and highlighted the importance of the FIC in raising awareness and ensuring compliance from stakeholders and reporting entities to effectively counter money laundering and terrorist financing in Ethiopia.
Participants were actively engaged through the use of interactive case studies, and feedback from training evaluations indicated that all participants felt they had greatly enhanced their level of understanding related to these topics and would be able to utilize this information in their job. In particularly, participants indicated they had greatly enhanced their knowledge related to issuing guidelines and monitoring compliance from reporting entities.
This training, facilitated by the Global Center, was part of a larger 17-month capacity-building and technical assistance project supported by the Government of Denmark titled “Strengthening Anti-Money Laundering and Countering the Financing of Terrorism Capacities in Ethiopia.”