ACAMS Moneylaundering.com: The Sentry Publishes Report Covering Onslaught of Organized Crime, Terrorist Financing in CAR

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The Sentry Publishes Report Covering Onslaught of Organized Crime, Terrorist Financing in CAR

BRIEF

The Sentry, a nonprofit organization formed by financial forensic investigators, policy analysts and regional experts on corruption, published a briefing on the rise of transnational organized crime and terrorist financing in the Central African Republic (CAR).

The report underlines that the rise in organized crime and terrorist financing is fueled by high-level corruption and a proxy conflict between pro-French and pro- Russian actors seeking to loot the country’s lucrative natural resources. Specifically, with elections only two months away, foreign powers are interfering in domestic politics, such as the alliance between CAR President Faustin-Archange Touadéra’s regime and the Wagner Group, a Russian state-linked security enterprise. The Sentry notes that the Wagner Group has close ties with Russian President Vladimir Putin and has been exposed or supporting armed groups accused of abuses against civilians in CAR.

The Sentry report also outlines how the current regime has exploited the COVID-19 pandemic by seeking to delay the elections and extend the current state of emergency. In addition, the report notes that some networks that support the previous pro-French leaders of CAR have activated in order to counter efforts by Touadéra and his Russian ally.

The Sentry recommends that the United Nations Security Council and members of the global community work to ensure that the elections in CAR are carried out effectively and transparently. The report also calls for sanctions targeting the individuals and entities with ties to transnational organized crime groups operating in CAR.

Additionally, the report recommends that financial institutions operating in CAR or with affiliates in CAR should conduct enhanced monitoring for transactions involving transnational organized crime networks, particularly those with close ties to the natural resources sector.