Anti-money laundering bill passed by Parliament

The Bill is to upgrade the existing anti-money laundering
regulatory framework to make it more consistent with international standards.
According to Chairperson of the Finance Committee, Mark
Assibey-Yeboah, the bill when assented to by the President will also empower
the Financial Intelligence Center by ensuring adequate funding and logistics to
clamp down on terrorism, money laundering and also investigate the unexplained
wealth of citizens.
Mr Assibey Yeboah is confident that Ghana will soon be taken
off the European Union's money laundering blacklist due to the strengthening of
its financial laws.
The concealment of the origins of illegally obtained money,
typically by means of transfers involving foreign banks or legitimate
businesses.
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