FIA Launches Directives for Non-Financial Businesses to Combat Money Laundering and Terrorist Financing
The Financial Intelligence Agency (FIA) on Monday, September 15, 2025, officially launched directives and guidelines for Designated Non-Financial Businesses and Professions (DNFBPs) at the Bank Complex, Kingtom, Freetown. The framework is designed to strengthen the prevention of money laundering, terrorist financing, and proliferation financing in Sierra Leone.
Welcoming guests, the Director General of the FIA, David N. Borbor, said the new guidelines are a direct response to the 2020 Mutual Evaluation Report on Sierra Leone, which highlighted weaknesses in the DNFBP sector, including low awareness of financial risks and a lack of effective supervision. “These guidelines and directives are designed to provide the necessary clarity and tools for DNFBPs to not only understand the risks but also to implement robust measures, thereby protecting the integrity of our financial system,” he said. He added, “Our collective efforts will strengthen the resilience of our financial sector and enhance national security.”
Speaking on behalf of the General Legal Council, Israel Jah Esq. emphasized that lawyers and other professionals must uphold integrity, accountability, and trust. He said the directives align with international standards and safeguard the credibility of both the legal and financial systems. “These guidelines provide clarity and obligations that guide practitioners in identifying risks, implementing preventive measures, and ensuring that our profession does not inadvertently become a conduit for illicit activities,” he stated.
The National Revenue Authority (NRA), represented by Mohamed James Foday, underscored the importance of compliance with the 2024 Anti-Money Laundering and Combating of Financing of Terrorism Act. He said the guidelines set clear obligations for DNFBPs, including conducting customer due diligence, maintaining transaction records, freezing suspicious assets, and cooperating with supervisory authorities. “I urge all professionals to make it a point of duty to read and apply these directives and guidelines,” he cautioned.
The Executive Director of the National Investment Board, Dr. Edward Sandy, highlighted the importance of protecting Sierra Leone’s investment space from illicit capital. He noted that while the country is working to attract private investment, it must ensure that only genuine investors contribute to national development. “We want to make sure Sierra Leone is never used as a place to finance terrorism or any other form of illicit financial activity,” he remarked.
Delivering the keynote address, Deputy Minister of Finance II, Madam Janet Jabati, who officially launched the document, described the policy as the product of extensive consultations with local and international partners. She explained that criminal networks often exploit weakly regulated sectors, and the guidelines will empower DNFBPs to detect and prevent illicit financial flows. “These directives are not just a new set of rules to be followed,” she said. “They represent a comprehensive framework designed to empower these sectors with the tools to effectively identify risks, implement strong internal controls, and fulfill their obligations under our anti-money laundering laws.” She added, “Together, we will transform the DNFBP sector from a potential target for criminal exploitation into a strong shield in the defense of our economy.”
The FIA was established in 2012 under the Anti-Money Laundering and Combating of Financing of Terrorism Act of Sierra Leone. It operates as the country’s national center for receiving, analyzing, and disseminating financial intelligence on suspicious transactions. Its mandate is to combat money laundering, terrorist financing, and related crimes by coordinating with law enforcement, regulators, and international bodies such as the Financial Action Task Force (FATF).
Over the years, the FIA has played a central role in strengthening Sierra Leone’s financial integrity. It has spearheaded public awareness campaigns, developed risk assessment tools, and supported law enforcement investigations that have uncovered illicit transactions. The agency also represents Sierra Leone in global anti-money laundering networks, ensuring the country aligns with international standards while building capacity among local institutions to detect and prevent financial crimes.
