Ambassador Jeff Daigle speech at Plenary of the National Strategy to Prevent and Combat Money Laundering, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction
Ministry of Finance, December 11, 2023. (10:45am)
Her Excellency the Minister of Justice,
Secretary of State of Finance
Senior Coordinator of the UNODC,
The fight against money laundering, terrorism financing and the proliferation of weapons of mass destruction are challenges too great for any one nation to tackle alone. Preventing these complex and often cross-border crimes, which threaten the safety and security of every citizen, requires close international cooperation, and the United States, along with UNODC, is pleased to be Cabo Verde’s partner in developing the country’s first national strategy – ENCAVE – which was approved earlier this year and is important for tackling such crime.
According to the IMF and the World Bank, criminals launder between two and almost four billion of dollars every year. Among those seeking to disguise the illegal proceeds of their crimes are drug traffickers, terrorists, corrupt public officials and organized criminal groups. The introduction of illegally obtained funds into the traditional flow of commerce and finance allows criminals to profit and continue their illegal activities, undermining the rule of law and eroding public trust in government and financial institutions. Perhaps more worryingly, money laundering and other similar violations in the financial system are the main method used by terrorists to finance their horrific attacks.
With ENCAVE, Cabo Verde has demonstrated its commitment to combating money laundering and denying criminal organizations access to the legitimate financial system. The strategy emphasizes the efficient use of Cabo Verde’s human, financial and institutional resources and effective coordination between the various entities critical to preventing and combating money laundering and, today, we will have the pleasure of learning about the actions that have been carried out as well as those planned for 2024
A sincere thank you to everyone who has contributed to the materialization of this important instrument.
Thank you very much!