In this episode, Business PNG speaks to anti-money laundering experts, Richard Busby, a long-time resident of PNG with a background in the finance and banking sector, and Alan Pedley, Principal Consultant of Governance Associates.
The pair explains anti-money laundering and counter-terrorism finance and the dangers and risks involved in the sector if not policed properly.
Also on this episode, the Central Bank, through the Financial Analysis and Supervision Unit launched the National Anti-Money Laundering and Counter Terrorism Financing Strategic Plan 2017 to 2022 and the Money Laundering and Financing of Terrorism National Risk Assessment.
The the strategic plan 2017-2022 will be used as a guide to deal with risks involved in anti-money laundering and counter-terrorist financing in the country and PNG’s first money laundering and financing of terrorism national risk assessment will identify the risks.
