EU Supports Namibia’s Efforts to Exit Grey List on Money Laundering

The European Union has launched a training workshop in Namibia aimed at helping the country comply with international anti-money laundering (AML) regulations and exit the grey list of the Financial Action Task Force (FATF).

Workshop Objectives

• Provide technical assistance to address shortcomings that led to Namibia being placed on the grey list
• Enhance capacity building for officials from various sectors, including law enforcement, intelligence agencies, and financial institutions
• Support Namibia in its efforts against illicit financial flows and in complying with AML regulations

EU Commitment

The European Union has committed to working with Namibia to address its remaining areas of concern identified in the Mutual Evaluation Report of 2022 and comply with FATF standards.

Project Overview

The training workshop is part of the EU’s AML-CFT ESCAY Project, which supports 33 countries in Eastern, Central, and Southern Africa and Yemen. The project aims to strengthen beneficiary countries’ national institutions mandated to AML/CFT and fight illicit financial flows generated by forms of transnational organized crimes, including terrorism and terrorism financing.

Participants

Over 30 participants from various sectors have attended the workshop, drawn from:

• Namibia Police force
• Anti-Corruption Commission
• Namibia Central Intelligence Service (NCIS)
• Office of the Prosecutor General (OPG)
• Namibia Financial Institutions Supervisory Authority (Namfisa)
• Namibia Revenue Agency (NamRA)
• National Payments System and Financial Surveillance
• Banking Supervision in the Bank of Namibia
• The Financial Intelligence Centre (FIC)