Botswana placed on money laundering high-risk list

Friday, October 26, 2018

Finance Minister, Kenneth Matambo says loopholes are being closed

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

The FATF conducts ongoing reviews of global compliance with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) standards, alerting countries of deficiencies, particularly those that may affect international financial systems.

Placement on its high-risk list is often seen as a disincentive to most global investors and international finance institutions, as the world attempts to clean up illicit financial flows.

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