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Parliament passes anti-money laundering bill

Parliament has passed the anti-money laundering Bill to help plug the holes in the existing anti-money laundering regulatory framework and make it more responsive to international standards.

Ghana's Parliament

The Anti-Money Laundering Bill, 2020, is to amend and consolidate the laws relating to money laundering and provide for related matters.

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The House passed the bill on Thursday, December 17, 2020.

Chairperson of the Finance Committee, Mark Assibey Yeboah, said the bill when assented to by the President of the Republic of Ghana will 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.

He said Ghana will soon be taken off the European Union's money laundering blacklist due to the strengthening of its financial laws.

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