insert_link Business / Economics EU Adds Namibia to High-Risk Financial Watchlist The European Commission has listed Namibia among countries posing high risks for money laundering and terrorism financing, following February’s FATF grey list decision. The move highlights strategic gaps in Namibia’s financial regulatory systems that need urgent reform. EU Ambassador Ana Beatriz Martins confirmed that the listing—also affecting Kenya, Angola, and others—now awaits approval from the European Parliament and Council. today25 June, 2025
insert_link Business / Economics South Africa nears compliance with the Financial Action Task Force’s financial crime requirements South Africa is close to meeting the Financial Action Task Force's requirements to combat financial crimes like money laundering and terrorism financing. In his first medium-term budget policy statement for the seventh administration, Finance minister Enoch Godongwana said only six items remain to be addressed by February next year, with 16 of the 22 requirements already fully or mostly completed: today31 October, 2024
insert_link Business / Economics Financial Intelligence Centre launches 2023/24 annual report The Financial Intelligence Centre which is mandated with combating money laundering, financing of terrorism, and proliferation launched the 2023/24 annual report in the capital on Wednesday. Speaking at the launch, FIC board chairperson, Charmaine van der Westhuizen says the FIC’s role is indispensable. The Financial Intelligence Centre achieved an unqualified audit opinion, with reserves increasing by 128% to N$44.3 million from N$19.3 million in the previous financial year. Total […] today26 June, 2024
insert_link Africa Africa begins licensing crypto as verified transactions hit US $117 billion By Conrad Onyango, bird story agency Regulators in Africa are taking steps to bring crypto entities under official oversight as treasuries seek to blunt fiscal risks amid a surge in demand for digital assets. Authorities in South Africa and Nigeria, the continent's most 'crypto-ready' countries, are leading the continent's efforts to place crypto dealers under a licensing regime to protect consumers against money laundering and terrorism-related risks. […] today2 April, 2024
insert_link Africa Kenya has tightened its laws to stop money laundering: why banks are the focus By Constance Gikonyo, University of Nairobi Kenya’s banking industry has in recent years been in the crosshairs of national, regional and international watchdogs, given the country’s role as a financial hub in eastern Africa. In 2023 Kenya enacted laws to curb money laundering and combat terrorism financing. While the laws have led to tougher sanctions on some banks, the risk of money laundering remains, and the country was […] today28 March, 2024
insert_link Africa Kenya’s greylisting for weak action on money laundering and terrorism financing: what that means and what must happen next By Louis de Koker, La Trobe University Kenya and Namibia are the latest African countries to be placed on the Financial Action Task Force’s grey list over their weak measures against money laundering and terrorism financing. Being on the grey list is typically seen as an indictment of a country’s ability to identify and effectively redress financial crimes. It warns investors to be cautious in dealings with […] today26 March, 2024
