ANIF tracking FCFA 128 bln following 500 reports of suspicion

The National Financial Investigation Agency (ANIF), the enforcer in the fight against money laundering and terrorism financing in Cameroon, received over 500 reports of suspicion in 2014, the pro-government daily revealed, citing a report from the institution.

These 500 reports of suspicion (against 250 in 2013), which have already helped build 60 cases transmitted to the Cameroonian justice system, we learn, concern a total of FCfa 128 billion, on which ANIF is hoping to trace.

According to the texts regulating its operation, ANIF benefits from the collaboration of banks, microfinance establishments, insurance companies and other liable institutions.

According to the regulation, these structures must transmit to the State’s financial intelligence unit, reports of suspicion in cases of transactions made by their clients and concerning well defined amounts. All of which enables ANIF to initiate investigations.

Money laundering being done increasingly through investments in sectors such as real estate, we learn, ANIF has added hardware stores to the list of structures and other institutions under the obligation of transmitting reports of suspicion.