CSOs urge govts to cooperate in anti-money laundering fight

Many stakeholders at the meeting noted that across many jurisdictions, organizations have faced financial exclusion as banks increasingly “de-risk” by closing accounts or refusing services to perceived high-risk clients.

They also noted that in some countries, FATF recommendation 8 which was designed to protect the non-profit sector from terrorist financing abuse through proportionate, risk-based measures, has instead been misapplied to impose excessive restrictions, increase regulatory burdens and, in some cases, shrink civic space.

Now as governments pursue stronger financial integrity systems, Wanjala argues that lasting progress will depend on recognizing civil society not simply as a regulated sector, but as a trusted partner in protecting communities, strengthening accountability, and safeguarding the integrity of the financial system.

“We can combat money laundering and terrorist financing while safeguarding civic space, by bringing civil society voices and perspectives to the forefront of the conversation. Civic space must sit at the heart of all frameworks. I strongly believe that can achieve a lot without interfering with the operations of legitimate nonprofit organizations or civil society,” he emphasized.

Echoing the call for meaningful reform, Ola Olukoyede, the executive chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), noted the need to have stronger institutions and building public trust “Achieving compliance should not be the ultimate goal stressing that compliance must translate into stronger institutions, more effective governance, and greater public trust” he noted Compliance must translate into stronger institutions, more effective governance, and greater public trust.

It’s only when we achieve this shall we move faster and make the progress needed.” Edward Amanyire, an official from the analysis and monitoring department of Uganda`s Financial Intelligence Authority (FIA), said the Ugandan delegation has learnt a lot from the meeting.

“As Uganda, we have also made progress by removing not-for- profit organizations from the list of reporting entities and the obligations that financial institutions have as far as money laundering is concerned,” he said.

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