The second objective of the SSM is to help breaking the negative feedback loops between sovereigns and banks, which were key features during the present crisis. This manifested itself in increasing debt levels of sovereigns that had to provide financial support to struggling banks as well as losses for banks from exposures to sovereigns under stress.
Another important ingredient for the effective combating of money laundering is the need for political commitment, as well the support from affected industries and general populace. It is worth noting that through the AU and other multilateral agencies where African nations are members, a number of efforts are being made to ensure that Africa is not lagging behind.