Inter-Governmental Action Group against Money Laundering in West Africa and African Development Bank organize West African Compliance Summit on FATF changes and third-round evaluation readiness

The Inter-Governmental Action Group against Money Laundering in West Africa, in collaboration with the African Development Bank, is organizing a four-day regional meeting under the West African Compliance Summit 2025 in Praia, Cabo Verde, from July 28 to 31, 2025. The programme is aimed at chief compliance officers and other regulatory and supervisory stakeholders, with a focus on emerging money laundering and terrorist financing risks, the implications of recent changes to Financial Action Task Force standards, and practical challenges in implementing anti-money laundering, countering the financing of terrorism and countering proliferation financing (AML/CFT/CPF) preventive measures as GIABA prepares for its third round of mutual evaluation. GIABA expects 196 participants from all member states, including chief compliance officers from financial and non-financial institutions, heads of financial intelligence units, and senior officials from insurance commissions, securities commissions and central banks across the region. The summit is intended to provide a forum to share implementation challenges and compliance practices and to raise private-sector awareness of GIABA's preparation for the third round of evaluation. GIABA also said the African Development Bank's AML/CFT/CPF capacity development project covers 10 member states, with GIABA covering the remaining seven member states and other summit costs not financed by the bank.