Senegal: Journalist in court for accusing President of money laundering- AML-CFT

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Money laundering has a corrosive effect on a country's economy, government, and social well-being. It distorts business decisions, increases the risk of bank failures, takes control of economic policy away from the government, harms a country's reputation, and exposes its people to drug trafficking, smuggling, and other criminal activity.

Given the technological advantages money launderers now employ, a high level of cooperation is necessary to keep them in check.

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El Malick Seck, the editor-in-chief the privately-owned Dakar based-daily "24 Heures Chrono", will appear in a Dakar, Senegal, court shortly accused of libelling President Abdoulaye Wade. Seck was arrested 28 August following the publication of a lead story in his paper which implicated President Wade and his son, Karim, with money laundering — of money stolen in 2003 from the Central Bank of West African States (BCEAO) in Bouaké, Côte d’Ivoire. According to the Senegalese criminal code, the author of the article will serve between six months and five years in prison and fined between 500,000 CFA and 1.5 million CFA if found guilty.

Source: AFRIK

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