The Democratic Republic of Congo Under Increased Scrutiny by International Regulatory Bodies

The Democratic Republic of Congo (DRC) has been placed under increased scrutiny by international regulatory bodies after being listed by the Financial Action Task Force (FATF) in October 2022 as a Jurisdiction under increased monitoring, and subsequently added to the European Union’s list of high-risk third countries in March 2023.

Addressing Strategic Deficiencies

As a result, the DRC is now working closely with the FATF and technical assistance providers to address strategic deficiencies in its regime aimed at combating money laundering, terrorist financing, and proliferation financing. This effort aims to strengthen the country’s anti-money laundering (AML) and counter-terrorist financing (CFT) framework.

EU Support

In August 2022, the EU Global Facility on Anti-Money Laundering (AML)/Combating the Financing of Terrorism (CFT) conducted a scoping mission to the DRC to assess the country’s request for support in enhancing its AML/CFT measures and improving its general framework. The team has since delivered:

• Training aimed at helping local authorities and relevant stakeholders rectify the DRC’s strategic deficiencies in its national anti-money laundering and counter-terrorist financing framework, as defined under the Fourth and Fifth Anti-Money Laundering Directives.
• Activities to support the country’s efforts to strengthen its AML/CFT regime.

By working closely with international regulatory bodies and receiving technical assistance, the DRC is taking concrete steps towards addressing its strategic deficiencies and enhancing its anti-money laundering and counter-terrorist financing framework.