Liberia Addresses Money Laundering Gaps in Gaming Sector
Liberia’s Financial Intelligence Agency has partnered with the National Lottery Authority to conduct specialized anti-money laundering training following a report identifying critical regulatory gaps in the country’s gambling industry oversight and compliance framework.
Regional Report Identifies Regulatory Weaknesses
The Inter-Governmental Action Group Against Money Laundering in West Africa flagged significant deficiencies in Liberia’s gambling sector supervision, including absence of transaction thresholds for casinos and exclusion of internet and ship-based operations from National Lottery Authority Act coverage. The report identified weak “fit and proper” testing that lacks criminal background checks for owners, operators, and key personnel. The NLA’s anti-money laundering supervisory role lacks clarity regarding enforcement powers.
FIA Officer-In-Charge Mohammed Ali Nasser addressed the training urgency on September 24. “This training is a strategic initiative to strengthen the NLA’s capacity and address critical AML/CFT gaps,” Nasser stated. The gambling sector handles significant cash flows requiring continuous regulatory skill development for detecting and reporting suspicious activities. In August, the FIA imposed fines on Colony Casino and 50/50 Casino for AML/CFT Act breaches, highlighting enforcement needs.
Training Program Strengthens Regulatory Capacity
The workshop equipped regulators with tools for identifying suspicious activities, enforcing customer due diligence requirements, and strengthening transaction monitoring systems. NLA Deputy Director General Richlue Burphy emphasized the authority’s expanded role beyond revenue generation. “We are now better positioned to ensure that our services contribute to national development, not to financial crime. This underscores a strategic shift from viewing the NLA solely as a commercial entity to recognising its vital role in ensuring the integrity and security of the national lottery system,” Burphy explained.
Gaming operators must now report ultimate beneficial owners to the NLA under the new regulatory framework, ensuring ownership transparency and reducing financial crime risks. The training program addresses critical skills gaps while reinforcing the regulatory partnership between financial intelligence and lottery authorities.
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