OUAGADOUGOU — The government of Burkina Faso has adopted a preliminary draft law aimed at strengthening the country’s efforts to combat money laundering and the financing of terrorism. The law, presented during the Council of Ministers meeting on Thursday, aligns with the UEMOA directive on anti-money laundering and terrorism financing systems.

According to Burkina Information Agency, the new legislation introduces several innovations, including provisions for monitoring electronic transactions, which are increasingly used in money laundering schemes. The bill also strengthens the system for detecting and sanctioning acts related to terrorism financing and money laundering, signaling Burkina Faso’s commitment to addressing these critical security issues.