The Benin government has approved a new strategy to tackle money laundering, terrorism financing, and the proliferation of weapons of mass destruction. This strategy, which will run from 2026 to 2030, aims to address the evolving threats of cybercrime, illicit financial flows, and risks associated with virtual assets and financial technology. The strategy was adopted by the Council of Ministers on November 4, 2026, under the chairmanship of Romuald Wadagni.
The new strategy is a response to the increasingly diversified financial circuits and growing security threats. The government cited several factors, including the rising terrorist threat, intensification of illicit financial flows, and cybercrime. The strategy also seeks to address vulnerabilities in the supervision of certain enterprises and non-financial professions. The goal is to have an effective system to combat economic and financial crime by 2030.
The strategy is built around four main orientations. The first focuses on consolidating the legal, institutional, and governance framework. The second aims to reduce structural vulnerabilities and enhance economic and financial transparency. The third axis involves strengthening prevention, regulation, and supervision based on risks. The fourth concerns improving the operational effectiveness of financial intelligence and repression.
To achieve its objectives, the strategy involves strengthening several national institutions, including the National Committee for Coordination of Activities to Combat Money Laundering, Terrorism Financing, and Proliferation of Weapons of Mass Destruction. The National Cell for Treatment of Financial Information (CENTIF) is also among the structures concerned, along with the National Agency for Recovery of Confiscated and Seized Assets.
The implementation of the strategy will be accompanied by a coherent national framework based on risks and a budgeted action plan. It will also have an institutional framework for implementation and a structured monitoring and evaluation mechanism. The goal is to enhance investigations, prosecutions, and confiscations while improving the supervision of sectors exposed to money laundering and terrorism financing risks.
The Benin government has instructed the concerned ministers to take the necessary steps for its implementation, monitoring, and evaluation. The strategy is part of a broader effort to create a safe and attractive economic environment. The government aims to modernize the legal framework and sanctions and enhance transparency on beneficial owners.
The adoption of this strategy demonstrates Benin's commitment to combating financial crimes and enhancing its financial system. The implementation of this strategy is expected to improve the country's ability to detect and prevent financial crimes and strengthen its cooperation with international partners in the fight against money laundering and terrorism financing.
Key points
- The strategy aims to address the evolving threats of cybercrime, illicit financial flows, and risks associated with virtual assets and financial technology.
