Democratic Republic of Congo Improves Anti-Money Laundering Measures Under International Scrutiny

Listing by FATF and EU

• The Democratic Republic of Congo (DRC) was listed by the Financial Action Task Force (FATF) as a Jurisdiction under increased monitoring in October 2022.
• In March 2023, the European Union (EU) added the DRC to its list of high-risk third countries.

International Concerns and Response

• These designations followed concerns about strategic deficiencies in the DRC’s anti-money laundering (AML), counter-terrorist financing (CTF), and proliferation financing regime.
• The DRC is now collaborating with the FATF and technical assistance providers to rectify these issues.

EU Global Facility’s Scoping Mission

August 2022:

• The EU Global Facility on AML/CFT conducted a scoping mission to discuss and assess the DRC’s request for support to enhance its AML/CFT measures.

Targeted Interventions

The EU Global Facility’s team focused on:

• Identifying and rectifying the strategic deficiencies in the DRC’s AML/CTF framework.
• Strengthening regulatory frameworks.
• Increasing investigative capabilities.
• Promoting international cooperation.

Impact and Future Expectations

• The EU Global Facility’s initiative marks a crucial step toward improving the DRC’s AML/CTF regime.
• The country is expected to uphold its commitment to addressing strategic deficiencies and maintaining transparency in financial transactions.

The DRC’s Determination

• The DRC’s commitment to combating money laundering and related financing activities reflects its dedication to upholding global standards and securing the integrity of its financial system.