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The Gambia Bankers’ Association

Committee

Compliance & AML/CFT

Focus areas

  • Customer due diligence
  • Suspicious transaction reporting
  • Sanctions screening
  • Compliance training

Purpose

Supports member banks in meeting their obligations to prevent money laundering and the financing of terrorism. It promotes a consistent, risk-based approach to compliance across the industry.

Responsibilities

The committee works within the framework of the Anti-Money Laundering and Combating of Terrorist Financing Act 2012 and related guidance from the Central Bank of The Gambia and the Financial Intelligence Unit.

  • Review proposed AML/CFT regulations and guidance and coordinate industry responses
  • Promote consistent interpretation of customer due diligence and record-keeping requirements
  • Share typologies and red flags of financial crime, without disclosing customer information
  • Support training for compliance officers and front-line staff
  • Liaise with the Financial Intelligence Unit on industry-wide reporting matters