The government adopted on Thursday a preliminary draft law to combat money laundering and the financing of terrorism in Burkina Faso.

“The preliminary draft law on the fight against money laundering, the financing of terrorism and the proliferation of weapons of mass destruction in Burkina Faso is in line with the UEMOA directive on the system for combating money laundering and the financing of terrorism,” said the Minister of Economy, Aboubakar Nacanabo, at the end of the Council of Ministers.

According to him, this system brings a number of innovations, including taking into account electronic transactions, which can also be means of money laundering.

Minister Nacanabo noted that the bill also provides for the strengthening of the sanctions system, detection of acts of terrorist financing and the fight against money laundering.

Source: Burkina Information Agency