Botswana assesses money laundering risk

Botswana has started a national risk assessment of its anti- money laundering and terrorism financing systems.

The risk assessment is an international requirement to combat money laundering and the financing of terrorism.  Countries are required to identify, assess and understand the money laundering and terrorist financing risks that they face in their jurisdiction.

Launching the project in Gaborone on Wednesday, Permanent Secretary in the Ministry of Finance and Development Planning, Solomon Sekwakwa said this was a huge milestone for the country’s financial sector as it marked the beginning of the first money laundering and terrorist financing national risk assessment in Botswana. He further said the assessment, done with help from the World Bank, would help government understand the sources and methods of money laundering in Botswana and to identify any vulnerabilities and weaknesses in the systems.

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