Senegal Makes Progress in Combating Money Laundering, But Still Faces Enhanced Scrutiny

Senegal has made significant strides in addressing technical compliance deficiencies identified in a recent assessment, leading to changes in its anti-money laundering (AML) and combating the financing of terrorism (CFT) ratings. The country’s efforts have resulted in several recommendations being re-rated.

Progress in AML/CFT Ratings

• Recommendation 6, initially deemed non-compliant, is now partially compliant
• Recommendations 1, 24, 36, and 38, previously rated as partially compliant, have been upgraded to largely compliant
• Recommendation 4 has moved from partial compliance to full compliance
• Recommendation 2 has been reassessed from largely compliant to fully compliant after concrete steps were taken to comply with new requirements

Continued Enhanced Scrutiny

Despite these advancements, Senegal will continue to be subject to enhanced follow-up and reporting obligations to the West African Initiative Against Money Laundering (GIABA) on its progress in implementing AML/CFT measures. The country remains committed to strengthening its anti-money laundering framework and combating terrorist financing.

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