The National Agency for Financial Investigation (NAFI) is a financial information public service attached to the Ministry of Finance and created by Presidential Decree No. 2005/187 of 31 May 2005, on the organisation and functioning of the National Agency for Financial Investigations. Its missions are the Fight against Money Laundering and Financing of Terrorism (FAML/FT). In order to better understand these missions, it is necessary to review:
- – The legislative and regulatory framework;
- – Organisation and functioning;
- – International Cooperation.
I- LEGAL FRAMEWORK
The legislative and regulatory framework for FAML/FT in Cameroon consists of:
- Regulation No. 01/03-CEMAC-UMAC-CM, 04th April 2003 on the Prevention and the Suppression of Money Laundering and Financing of Terrorism in Central Africa. This text is legally binding and contains the FATF 40 +9 Recommendations in the said domains, is directly applicable in all CEMAC member States.
The said Regulation institutes in its article 25, NAFI in all Central African States.
- Regulation No. 02/02/CEMAC/UMAC/CM of 14th April 2002, on the organisation and functioning of the Action Group against Money Laundering in Central Africa (GABAC). This text makes GABAC, the sub-regional structure in charge of managing, coordinating and stimulating the actions taken by CEMAC member States in the Fight against Money Laundering and proceeds of crime.
- Law No. 2003/004 of 21st April 2003 relating to banking secrecy, which oversees the non-enforceability of banking secrecy in some courts;
- Presidential Decree No. 2005/187 of 31st May 2005, on the organisation and functioning of the National Agency for Financial Investigation
- Order No. 06/403/CF/MINEFI 28th December 2006 on the organisation of services of the National Agency for Financial Investigation
- Order No. 0000144/CF/MINFI 26th March 2009 setting at CFA 5 000 000 francs, the threshold for declaration of transactions in cash or by bearer bond at the National Agency for Financial Investigation (NAFI).
II- ORGANISATION AND FUNCTIONING
The NAFI comprises 04 members, including a Director, support Services made uo of 03 operational units and 02 Administrative Services. The NAFI equally has correspondents designated in some government services.
At the operational level the NAFI is at the centre of the chain of national Actors of FAML/FT. As such, it receives declarations of suspicion from the subjected professions that it enriches before subsequently transmitting them to the competent prosecutor; reports, when the suspicion is confirmed.
III- INTERNATIONAL COOPERATION
Given the transnational nature of crimes related to money laundering and financing of terrorism, the NAFI negotiates within the framework of an inter-ministerial Committee put in place by the Minister of Finance and following the authorisation given by the Minister of State, Secretary General of the Presidency of the Republic for the opening of the said negotiations, the Cooperation Agreements with Foreign Financial Intelligence Units (FIU), on the exchange of information and data on FAML/FT.
Moreover, the NAFI is a member of the Egmont Group, at the end of the 18th plenary assembly of the said Group, held in Cartagena, Colombia.
The NAFI responds to the following contacts:
16th Floor, NIC Building
Republic of Cameroon
Post Box 6709 Yaound├®
Tel: (237) 22 22 16 83
Fax: (237) 22 01 97 85