Title: FATF Cracks Down on Money Laundering and Terrorist Financing in Equatorial Guinea

The Financial Action Task Force (FATF) is monitoring Equatorial Guinea’s financial sector to ensure compliance with international standards against money laundering and terrorist financing.

Assessing Equatorial Guinea’s Progress

The FATF, the global leader in establishing international standards to combat illicit activities, is focusing on critical areas in Equatorial Guinea:

1. Legal and regulatory framework

   • FATF assessing the effectiveness of Equatorial Guinea’s laws and regulations in countering money laundering and terrorist financing.

2. Regulatory and operational capacity

   • Evaluating the operational capabilities of Equatorial Guinea’s regulators in implementing international standards.

3. Asset recovery

   • Collaborating with Equatorial Guinea to strengthen asset recovery and confiscation processes.

4. Transparency and beneficial ownership

   • Promoting greater transparency in Equatorial Guinea’s financial system to prevent misuse of anonymous companies and trusts.

Equatorial Guinea is one of over 200 jurisdictions worldwide committed to the FATF Recommendations through the global network of Financial Intelligence Units (FIUs) and FATF membership.

International Cooperation and Progress Update

By working with countries like Equatorial Guinea, the FATF aims to create a global network of effective countermeasures against financial crimes.

Stay tuned for the latest assessment of Equatorial Guinea’s progress in implementing the FATF Recommendations!