Namibia Successfully Removed from Financial Action Task Force Greylist After Addressing Deficiencies
The Financial Action Task Force has removed Namibia from the greylist after two years. This is after successfully addressing all 13 strategic deficiencies in its anti-noney laundering and counter-terrorism financing frameworks. The Paris-based financial crime watchdog formally confirmed the removal during its plenary meeting in Paris this week. Minister of finance Ericah Shafudah says the country was greylisted in February 2024 and was given a deadline of May 2026 to address
Namibia has been removed from the Financial Action Task Force (FATF) greylist, marking a significant achievement after two years of focused effort. The country successfully addressed all 13 strategic deficiencies identified in its anti-money laundering and counter-terrorism financing frameworks. The FATF, a Paris-based financial crime watchdog, formally confirmed Namibia's delisting during its recent plenary meeting. Finance Minister Ericah Shafudah stated that Namibia demonstrated the highest level of political commitment from the outset to rectify these issues, having been placed on the greylist in February 2024 with a deadline of May 2026.
This development signifies Namibia's successful reform of its financial regulatory systems, enhancing its international financial standing and potentially attracting investment.
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