Search Results for: Congo

The Basel Institute on Governance has welcomed a gradual improvement in AML/CFT technical compliance with FATF recommendations but has warned governments’ progress in improving effectiveness remains sluggish.

Its 13th edition of the Basel AML Index assessed164 countries, with Myanmar, Haiti and the Democratic Republic of the Congo (DRC) receiving the highest AML/CFT risk scores, with San Marino, Iceland and Finland the lowest (1).…

Uganda may have been removed from the FATF grey list this past February (2024), but its FIU has told MLB it knows more AML, CFT and CFP work is ahead. The east African country had been grey listed since 2020. After de-listing, FATF said in a communiqué it “welcomes Uganda’s significant progress in improving its AML/CFT regime”.…

The Democratic Republic of Congo’s (DRC) ambitious plans to reform its universities and higher education system are progressing steadily, although faced with challenges. HE administrators and government officials are now working through the requirements of the new system having received a December 2022 decree establishing the grade designations of graduates for the new License-Master-Doctorate (LMD) system.…

A Financial Action Task Force (FATF) paper has warned that governments are failing to increase AML/CFT controls on virtual assets and virtual asset service providers (VASPs), with only 25% of those surveyed fully or largely compliant with FATF guidance (1).

Of these 130 jurisdictions assessed under the latest mutual evaluation reports and follow up checks, the 75% proportion of those partially or not compliant with FATF recommendation 15 on VASPs and other new tech, “is identical to that of April 2023…and shows negligible improvement,” said FATF.…

Uganda has thousands of refugee students in its public and private universities, plus other higher education institutions, with numbers increasing to 15,000 today, says the country’s ministry of education and sports. Over time those students have had impacts on the institutions where they study, the surrounding environment and the country at large.…

As wars and civil wars intensify worldwide, international and national sanctions are being issued thick and fast and are expanding in scope and complexity. Financial institutions are scrambling to keep up, while regulators are clamping down hard on sanctions violators. The outlook is for a broadening of sanctions ahead.…

The doomsayers who in 2022 predicted the collapse of cryptocurrency as a major payment instrument have been proved wrong, meaning that AML regulators and obliged entities will need to focus hard to fight the abuse of these digital payment systems by criminals.…

The Great Lakes region in cenztral and eastern Africa is exceedingly resource rich, and being beset by instability and conflict, it is highly attractive for illicit trade and financial crime fuelling money laundering. A new European Union (EU) Great Lakes Strategy is trying to promote the rule of law in the region – notably Rwanda, Burundi, Uganda and the eastern provinces of the Democratic Republic of Congo (DRC) – but faces major challenges.…

The UK Serious Fraud Office (SFO) has shelved investigations into two major mining companies on the eve of a new director’s arrival. Current Assistant Commissioner of the Metropolitan Police Nick Ephgrave takes over at the end of September.

As the term of predecessor Lisa Osofsky expires, the agency (on Aug 23) an announced long running corruption investigations into the Anglo-Australian mining major Rio Tinto Group and Kazakhstan-focused mining Eurasian Natural Resources Corp (ENRC) were being scrapped.…

Kenya remains east Africa’s economic powerhouse and its ability to supply and encourage the region’s paint and coatings sector remains strong. Sales in paints, varnishes, pigments and other related coatings are expected to grow by 2.86% annually until 2028, according to insights from Statista (1), a Germany-based provider of market intelligence and business solutions.…