Botswana battles dirty money greylisting in Paris :: Mmegi Online

A team of senior law enforcement and financial sector experts led by the Financial Intelligence Agency (FIA) is in Paris leading efforts to have the country removed from a global list of territories marked as high-risk for money laundering.

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.

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