REGULATORY/COORDINATING FRAMEWORK

The under listed institutions have the authorities to regulate/coordinate: i. Bank of Ghana (BoG) ii. The Financial Intelligence Centre (FIC) iii. Registrar-General’s Department (RGD) iv. Securities and Exchange Commission (SEC) v. National Insurance Commission (NIC) vi. Gaming Commission vii. Minerals Commission viii. National Pensions Regulatory Authority (NPRA) ix. Self- Regulatory Bodies (SRBs) x. Ghana Revenue Authority (GRA)

LAW ENFORCEMENT FRAMEWORK

The under listed agencies have the authorities to enforce law and order: i. National Security Council Secretariat ii. Bureau of National Investigation iii. Economic and Organised Crimes Office iv. Ghana Police Service v. Ghana Immigration Service vi. Narcotics Control Board (NACOB) vii.Ghana Revenue Authority viii. Office of the Special Prosecutor (OSP)

ACCOUNTABLE INSTITUTIONS

The Anti-Money Laundering Act, 2008 (Act 749), as amended, identifies the following as accountable institutions: i. Banks and Non-Bank Financial Institutions ii. Market Operators. iii. Insurance Companies iv. Designated Non-Financial Businesses and Professions. STRATEGY To achieve the objectives set in this policy, the strategy to be adopted for its implementation include the following: a. Strengthening of National coordination mechanism and stakeholders’ engagement. b. Ensuring an all-government approach in the implementation of the policy. c. Mobilisation of donors and partners. d. Public awareness and education using various channels, especially electronic and social media. e. Outreach programs to religious and community leaders. f. Establishment of a monitoring and evaluation mechanism to monitor and account for results. g. Establishment of a public feedback mechanism to continuously inform the public of the progress being made in the implementation of the policy.

MONITORING AND EVALUATION

The National AML/CFT Policy and Action Plan was developed under the auspices of the IMC. The IMC has the overall responsibility to coordinate, monitor and evaluate the implementation of this policy. At the operational level, each responsible agency identified within the Action Plan would implement their respective action points and provide periodic updates on the implementation. These reports will be monitored and reviewed by the Financial Intelligence Centre as the central agency designated by the IMC to supervise the implementation of the Action Plan.

monitored and reviewed by the Financial Intelligence Centre as the central agency designated by the IMC to supervise the implementation of the Action Plan. Feedback from the implementation process would be used to monitor progress towards the achievement of the strategic objectives and to make informed decisions about the most effective and efficient way of allocating resources to achieve value for money. The Government of Ghana is committed to ensuring a safe and sound financial system by putting in place measures to adequately address the threats posed by ML/TF & P. The Government through the IMC seeks to achieve the above through the effective implementation of this National AML/CFT Policy and Action Plan. The implementation of the Policy would deepen collaboration among stakeholders, strengthen the AML/CFT supervisory regime, enhance the capacity of LEAs, which would lead to an increase in ML/ TF&P prosecutions, convictions, confiscations and asset recovery. It would also enhance AML/CFT&P awareness among AIs, CSOs, the private sector and the general public. It is important to note that the implementation of the Policy and Action Plan requires a multi-dimensional/multi-agency approach to achieve desired results. It is the expectation of government that all stakeholders would collaborate effectively to successfully implement this Policy. Adequate resources would also be committed to implementing the Policy to address all vulnerabilities and identified strategic deficiencies within the AML/CFT regime. Ghana would continue to collaborate with FATF, GIABA and other Development Partners in its effort to safeguard the domestic and international economy from the threats of Money Laundering, Terrorism Financing and the Proliferation of weapons of mass destruction.