Role of Financial Institutions in Disrupting Illicit Financial flows- 6-10/06/21

• What: National Training Webinar: The Role of Financial Institutions in Detecting, Identifying and disrupting Illicit Financial Flows of Trafficking of Human Beings and Smuggling of Migrants in Sudan
• Where: Virtual (online)
• When: 06 -10 June 2021
• Who: 48 Sudanese compliance officers and officials drawn from 38 banks, 4 foreign exchange and money transfer companies, Financial Information Unit, Police, Central Bank of Sudan, judiciary and the national committee on counter human trafficking

 Context

Sudan has become a regional hub of trafficking in human beings (THB) and smuggling of migrants (SoM) as a main source, transit and a destination. Sudan is primarily a transit route for migrants from Ethiopia, Eritrea and Somalia destined to Europe via the Mediterranean Sea. It is reported that in 2018, more than 2000 Sudanese and more than 4000 Eritreans transited through Sudan and crossed the Central Mediterranean to Europe. THB and SoM criminal networks are operating from within Sudan with links to syndicates operating out of Sudan. Illicit financial flow from THB/SoM criminals and their networks is likely to happen in Sudan because of the presence of the perpetrators networked regionally. Some cases investigated by Sudan police showed that payments by traffickers and smugglers are facilitated in Sudan including by locals and foreign criminal syndicates.

Capacity building and effective engagement of the financial services and other relevant stakeholders is critical to counter THB/SoM criminals and their illicit financial flows. Operational cooperation and coordination between the different public and private institutions is essential to successfully fight THB/SoM and protect the integrity of the financial system. Understanding and disrupting the financial flow of criminals through effective AML measures and financial investigations is vital in preventing and deterring criminal networks and their financial flow.

In this regard, the Project, in collaboration with Sudanese Financial Information Unit, organized this webinar to sensitise and strengthen the capacity of the participants on their role in disrupting illicit financial flows of THB SoM.

Objectives

To sensitise participants on the role of financial institutions and reinforce their capabilities in detecting, identifying and disrupting illicit financial flows of THB/SoM criminal networks through effective AML/CFT measures. The Training is expected to:

• Improve the financial institutions’ capacity of detecting, identifying, analysing and disrupting suspicious transactions in general and in particular related THB/SoM illicit financial flows;
• Enhance the quality and adequacy of suspicious activity reports (STRs) generated by the financial institutions; and
• Enable financial institutions better cooperate with SFIU, law enforcement and regulatory bodies on AML actions strictly adhering to relevant laws.

Feedback/Review

More than 86% of the participants had never attended this kind of training. Majority of them rated their practical skills and knowledge in the field as beginner or intermediate. After the training, the participants noted that the training was relevant and important, added value to their knowledge and skills and will contribute to the overall improvement in the quality and adequacy of STRs. Trainees demanded for more training and awareness raising schemes on THB/SoM, terrorism financing, frauds and cash smuggling, risk assessment and analysis, and AML control techniques. The participants also suggested for better cooperation and information sharing between the financial institutions and the SFIU, among others.