Following an official request for assistance by Malagasy authorities to the AML-CFT ESCAY Project, the Project organized a mission to Madagascar to offer both training and hands on practical mentoring in two key areas: Strengthening Madagascar’s AML/CFT supervision/ mentoring and beneficial ownership transparency, and secondly, on the effective use of financial intelligence, and AML/CFT investigation and prosecution and asset recovery.
Madagascar faces significant Money Laundering risks related to underlying offenses such as corruption, tax and customs offenses. Moreover, the biodiversity and geographical characteristics of the island are elements that generate natural resources and drug trafficking.
Spearheading our assistance in Madagascar is our team leader, Frédéric BAYARD , accompanied by our partners in esaamlg org, represented by Muluken Yirga Dubale and Phineas Rameshovo MOLOTO.
Speaking to us during this training, Mamitiana RAJAONARISON, the Head of the FIU in Madagascar said:
‘On behalf of the Malagasy stakeholders (public and private sector) and on behalf of SAMIFIN, I would like to express our deepest gratitude to the EU-AML/CFT-ESCAY project and to Mr Frédéric BAYARD and his team for this technical assistance, especially in IO3 and IO6. We are proud and enthusiastic to host Mr. Frédéric BAYARD and the two experts Muluken and Phineas. We are committed to make this support profitable to our AML/CFT regime particularly the supervision, prevention and financial intelligence. This cooperation is invaluable!’
