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LARMO calls on the international community to provide more support to asset recovery and anti-money laundering institutions during a conference in Cairo

The Libyan Asset Recovery and Management Office (LARMO)’s Director General, Mr. Mohamed Ramadan Mensli, called on the international community, including MENA governments, to provide more support to asset recovery and anti-money laundering institutions. He emphasised the need for concerted efforts to stop the looting of assets that rightfully belong to the people and to ensure the investment of recovered assets to secure a brighter future for all nations.
Mr. Mensli spoke at the Arab Forum on “Promoting Transparency and Good Governance,” organised by the Arab Administrative Development Organisation in cooperation with Transparency International. The forum took place in Cairo from 12th to 14th June, under the slogan “All Partners in Fighting Corruption.”
The Director General stated, “We understand that the international community sometimes struggles to determine whom to trust and work with. However, that should not be a reason to let corrupt individuals continue plundering funds that could have been better spent on projects in the interest of local communities. We really need your support to stop these illegal financial flows and send criminals across the world a clear message that, in the long term, they will not benefit from theft.”
He added, “Stolen assets are often used to finance terrorism and criminal organisations. By removing this dirty money from the world’s financial systems, we will contribute to bringing more security and stability to the countries of the region, and thus to the world as a whole.”
Mr. Mensli also called for greater cooperation between governments and international organisations to combat money laundering and facilitate asset recovery operations, in a keynote speech delivered during a session entitled “Recovering looted assets, combating all types of organised crime and significantly reducing illegal financial flows.” He highlighted the importance of managing recovered assets to the highest standards of integrity and absolute transparency, while adopting best practices for investing them in urgent humanitarian projects as well as long-term development projects that would ensure a better future for future generations.