PNG SETS 18-MILESTONE PLAN TO ADDRESS FATF GREY LISTING
CAPTION: BPNG Governor Elizabeth Genia speaking today at the BPNG Breakfast event today at Hilton Hotel
BY RAYLEEN WANJIMAN
THE Governor of the Bank of Papua New Guinea Elizabeth Genia says Papua New Guinea has agreed to an action plan containing 18 milestones to address concerns raised by the Financial Action Task Force.
Speaking during the BPNG breakfast in Port Moresby today the Governor said the National Coordination Committee on Anti-Money Laundering and Counter-Financing of Terrorism endorsed the plan earlier this year.
She said meeting the milestones will help Papua New Guinea demonstrate that it meets the minimum international standards in combating money laundering and terrorism financing.
She added that 23 government agencies represented on the national coordination committee are now working together to deliver the required reports and reforms ahead of the deadlines.
The Governor noted that achieving the milestones is the first step and more work will be needed to strengthen the effectiveness of the country’s anti-money laundering framework.
