Botswana battles dirty money greylisting in Paris

The Financial Action Task Force (FATF), a global anti-money laundering organisation founded by the world’s richest countries, placed Botswana on its greylist of high-risk countries last October, rattling the country’s competitiveness.

At the FATF’s recommendation, the European Union in February blacklisted Botswana as a money laundering and terrorism financial high-risk, further damaging the country’s investment and doing business allure. The actions came even as Botswana fine-tuned several pieces of legislation designed to enhance anti-money laundering and comply with the world-class standards for stamping out the vice.