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Gambia’s Anti-Money Laundering Guidelines Under Scrutiny: FATF Recommendations Implemented, Report Finds

A comprehensive evaluation has been conducted on The Gambia’s anti-money laundering and combating the financing of terrorism (AML/CFT) measures, in accordance with the 2012 Financial Action Task Force (FATF) recommendations. The assessment was carried out using the 2013 methodology and provides an overview of the country’s AML/CFT framework as it stood at the time of the on-site visit.

Assessment Highlights

• The report highlights The Gambia’s level of compliance with the FATF 40 Recommendations.
• It also assesses the effectiveness of its AML/CFT system.
• Recommendations for strengthening the system to better combat financial crimes are provided.

Key Findings and Recommendations

Compliance with FATF Recommendations

• The report reviews The Gambia’s level of compliance with the FATF 40 Recommendations.
• Strengths and weaknesses of the country’s AML/CFT framework are identified.

Effectiveness of AML/CFT System

• The assessment evaluates the effectiveness of The Gambia’s AML/CFT system in preventing money laundering and terrorist financing.
• Recommendations for improvement are provided to strengthen the system.

Endorsement by FATF

The findings have been reviewed and endorsed by the FATF, providing a comprehensive and authoritative assessment of The Gambia’s anti-money laundering efforts.

Next Steps

For more information on the key findings and priority actions recommended in the report, please refer to the Executive Summary.