Parliament Passes the anti money laundering & proliferation of weapons of mass destruction ACT 2024

Parliament Passes the anti money laundering & proliferation of weapons of mass destruction ACT 2024

The Parliament of Sierra Leone has on Tuesday, 16/04/2024 enacted into law with some amendments, the Bill entitled: “Anti-Money Laundering and Combating of Financing of Terrorism and Financing The Proliferation of Weapons of Mass Destruction Act, 2024”, for the Development and Security of Sierra Leone.

The Bill seeks to provide for the transformation of the Financial Intelligence Unit into an autonomous and independent body to be known as the Financial Intelligence Agency which would serve as the national central authority for the receipt, analysis, and dissemination of financial information, to provide for the criminalization of Money laundering, financing of terrorism, and financing the proliferation of weapons of Mass Destruction, and other related matters.

The Bill went through a series of consultations and proper scrutiny and was earlier debated before it was passed into law.

The Report of the Legislative Committee Presented by its Chairman, Hon. Abdul Sulaiman Marray-Conteh to the Committee of the Whole House formed part of the Legislative Process before enactment.

The Chairman categorically revealed to the Plenary that, the Report reflects the consensus of the Membership of the Legislative Committee. The comprehensive Report explained the amendments and scrutiny of Parts, Clauses, Composition, administration, meanings, penalties, fines, and contents amongst others.

The Deputy Minister of Finance I, Kadiatu Allie piloted the Bill before its passage into law.