The rise in terrorism in Africa and the world at large, its complexities linked to its funding in a world of growing Information and Communication Technology, has raised more concerns over money laundering in the Central Africa Sub-region.

Members of the Anti-money Laundering Task Force in Central Africa, GABAC, meeting in Yaounde on September 17, 2015, were unanimous that the use of credit cards, e-post and mobile money in financial transactions tend to promote money laundering and terrorism financing.

Overcoming this challenge calls for a reinforcement of combat strategies. Countries of the sub-region that make up GABAC have pledged to fight the rising scourge.

Cameroon’s Finance Minister, Alamine Ousmane Mey, chair of Thursday's plenary, revealed that they were working towards making GABAC one of the international institutions capable of curbing the bane. Training has been identified as a weapon for change, and GABAC members are ready to update skills on growing forms of financial transactions.

GABAC is not an operational body, said Geoffroy Desiré Mbock. The Permanent Secretary of GABAC disclosed that, “We are a study cabinet that uses the International Financial Unit, ANIF, to evaluate criminal trends and make strategic recommendations to ministers for action.”

Tracing the sources of money is the principal task of local banks. Making sure that control measures are in place is now of interest to GABAC. The fourth plenary session endorsed the request by the body to carry out a study on control mechanisms on tracing financial flows in local banks.

Thursday’s meeting was also an opportunity for the sub-regional institution to review efforts and progress made in the implementation of measures to fight money laundering and terrorism financing. The assembly also discussed the support of international partners.

Nine files were up for scrutiny with the 2015 report as at June, the projected activity programme, the adoption of the 2016 budget, proposals for regulation and the examination of the exercise report on the abusive use of Non-governmental Organisations to fund terrorism discussed.

Country evaluation reports however reveal insufficiencies. The absence of national coordination structures on money laundering, the lack of feedback on court cases from national financial investigative structures and lapses in the application of Resolutions 1267 and 1373 of the United Nations are some of the challenges faced by countries of the sub-region in fighting money laundering and financing terrorism.