Financial Crime World

Financial Crime Threat Assessment Report: The Gambia

I. Introduction

The Gambia is a West African country that faces significant challenges in addressing financial crimes, including money laundering, terrorist financing, and corruption. This report provides an overview of the country’s risk profile for financial crime and highlights its weaknesses in addressing these issues.

Key Findings

  • The report identifies high levels of illicit financial flows out of the country.
  • Weaknesses in anti-money laundering (AML) and combating the financing of terrorism (CFT) frameworks are significant concerns.
  • Corruption and bribery are major issues in The Gambia.

II. Threats and Vulnerabilities

The following threats and vulnerabilities have been identified:

  • Illicit Financial Flows (IFFs): High levels of IFFs out of the country pose a significant risk to the financial system.
  • Weak AML/CFT Frameworks: The Gambia’s AML/CFT frameworks are weak, making it difficult to combat money laundering and terrorist financing.
  • Corruption and Bribery: Corruption and bribery are widespread in The Gambia, undermining the rule of law and good governance.
  • Limited Cooperation with International Partners: Limited cooperation with international partners hampers efforts to combat financial crimes.

III. Country Performance Indicators

The report summarizes various country performance indicators, including:

Corruption Perceptions Index (CPI)

  • The Gambia’s CPI score is 33/100, indicating a high level of corruption.

Global Terrorism Index (GTI)

  • The Gambia’s GTI score is 2.3/10, indicating a moderate level of terrorism risk.

Basel AML Index

  • The Gambia’s Basel AML Index score is 6.4/10, indicating a weak AML/CFT framework.

OCED’s Bribery and Corruption Risk Assessment

  • The Gambia receives a high-risk rating from the OECD.

FATF’s 40 Recommendations

  • The Gambia has not yet implemented all of the FATF’s 40 Recommendations on AML/CFT.

IV. Financial Crime News (FCN) Country Ratings

The report provides FCN country threat/risk ratings, which are based on a comprehensive set of indicators. The Gambia receives:

  • Moderate Threat Rating: 59/100
  • Low-Moderate Response Rating: 39/100

V. Selected Information

The following charts and data are included to track trends over time:

Illicit Financial Flows

  • A chart showing the trend of illicit financial flows out of The Gambia.

Corruption Perceptions Index

  • A graph showing the trend of corruption perceptions in The Gambia.

Bribery and Corruption Risk Assessment

  • A chart showing the trend of bribery and corruption risk assessment in The Gambia.