- (Business in Cameroon) - The Bank of Central African States (BEAC) has advocated the effective application of laid down texts on the prevention and fight against money laundering and the financing of terrorism in the sub-region by member countries of the Central African Economic and Monetary Committee (CEMAC).

The Governor of BEAC, Lucas Abaga Nchama, made the appeal recently at the end of a four-day capacity building and information sharing workshop in Yaounde on the stakes and challenges of the destroyer in the sub-region.

One of the recommendations of the workshop was effective collaboration and concertation between member countries and competent authorities in the fight against the economic ill both at national, sub-regional and international levels.

Mr Abaga Nchama is quoted by Cameroon Tribune to have said during the closing ceremony that surveillance control will be stepped up and detection computer software procured. The Action Group against Money Laundering in Central Africa, (GABAC), whose role is to lead, coordinate and boost actions undertaken by CEMAC member States as part of the fight against money laundering and terrorist financing and the various national agencies for financial investigations would need to redouble their efforts for efficiency.

Also Read

19-01-2011 - BEAC is favorable to a fiscal correction in Central Africa