Seychelles assumes presidency of regional anti-money laundering group

Seychelles assumed the presidency and chairmanship of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) from Tanzania at the opening of the Council of Ministers meeting on Friday.

The Tanzanian minister of Finance and Planning, Philip Mpango, handed over the presidency to his counterpart in Seychelles, Maurice Loustau-Lalanne, at the meeting which was hosted by the island nation for the first time.

In his inaugural address, Loustau-Lalanne said, “Seychelles will do all it can to ensure that the achievements made under the Tanzania  Presidency are sustained and our organisation continues to play a positive role in the fight against Money Laundering, Financing of Terrorism and Proliferation and all associated financial crimes.”

The purpose of Eastern and Southern Africa Anti-Money Laundering Group launched in Tanzania in August 1999 is to combat money laundering by implementing recommendations from the international policy-making body, Financial Action Task Force (FATF)….
Source: Seychelles News Agency