The Sahel region in West Africa is highly vulnerable to the threat of terrorism due to the presence of the Islamic State in the Greater Sahara (ISGS) and the Al Qaeda-affiliated Jama’at Nusrat Al Islam Wal Muslimin (JNIM). These terrorist groups are able to capitalize on porous borders and weak financial supervision to raise funds to implement their agenda.
To address this challenge, FSVC has partnered in a multi-year United Nations Office on Drugs and Crime (UNODC) program in January 2021 to strengthen anti-money laundering and combating the financing of terrorism (AML/CFT) efforts in West Africa. This program will identify key vulnerabilities in the detection, investigation, disruption and prosecution of terrorism financing in several West African countries. FSVC and UNODC will also provide technical assistance to strengthen domestic coordination among relevant authorities, and to increase the effectiveness of regional AML/CFT cooperation and information sharing.
As part of this program, FSVC is reviewing the regulatory framework surrounding the supervision of designated non-financial businesses and professions (DNFBPs) in Burkina Faso, and will provide recommendations to strengthen it. A strong supervisory framework is critical to ensuring that legitimate DNFBPs can safely operate, while protecting the sector from terrorist abuse.
This program is funded by the U.S. Department of State’s Bureau of Counterterrorism (CT).