Inaugural AML/CTF/CPF Conference Kicks Off in Port Moresby to Combat Financial Crime

Historic Conference Addresses Financial Crime in PNG

The inaugural Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing (AML/CTF/CPF) Conference officially began today, October 1, 2025, at the APEC Haus in Port Moresby, Papua New Guinea. Co-organized by the Bank of Papua New Guinea (BPNG) and Transparency International PNG (TIPNG), the two-day event brings together delegates from both government and the private sector to bolster the country's defenses against financial crime.

BPNG Governor Elizabeth Genia underscored the significance of the gathering in her opening remarks, stating, 'This is the first time the Central Bank has gathered delegates from the government and the private sector in recognition that our response to financial crime demands a 'whole of society' effort spanning across government, business, and civil society.' The conference, themed 'Fighting Financial Crime is Everyone's Business,' is open to all Papua New Guineans, reflecting the broad importance of the work.

Addressing FATF Grey-Listing and Compliance Gaps

A central focus of the conference is Papua New Guinea's recent grey-listing by the Financial Action Task Force (FATF) following its 2024 Mutual Evaluation Report (MER). Governor Genia acknowledged the report's 'not good' findings, which highlighted significant shortcomings in both the effectiveness of PNG's AML/CTF framework and its technical compliance with FATF standards. She framed the grey-listing not as a catastrophe, but as a 'call to action.'

Discussions on the first day are exploring the country's governmental approach to implementing the FATF's 40 Recommendations, with an emphasis on advancing transparency, strengthening anti-money laundering efforts, and shaping resilient financial governance across PNG. Participants are also analyzing how entities are interpreting and integrating obligations under PNG's AML/CTF Act 2015, bringing Designated Non-Financial Businesses and Professions (DNFBPs) into focus, and examining emerging financial crime trends.

Strategic Implementation and Inter-Agency Coordination

To address the identified deficiencies, Governor Genia outlined plans for establishing a formal inter-agency coordination framework. This framework will include clear protocols for intelligence sharing, joint task forces for priority cases, and measurable reporting obligations across agencies. She emphasized that this initiative is crucial for ensuring that law enforcement, regulators, prosecutors, and supervisors work with the same information and act in unison.

The conference also aims to foster future collaboration with the Asia/Pacific Group on Money Laundering (APG). Papua New Guinea has a history of engagement with FATF, having been grey-listed in 2014 and successfully exiting in 2016. The current efforts, including a Strategic Implementation Plan (SIP), are designed to prevent a repeat scenario and enhance the nation's AML/CTF framework.

Commitment to National Resilience

The event is designed to build national resilience through open dialogue, learning, and cooperation, inviting not just professionals but all members of the public to participate. The discussions will cover critical topics such as the impact of enforcement, regional financial crime trends, the grey-listing process, and the future of collaboration with international bodies. The conference is scheduled to conclude on Thursday, October 2, 2025.