WINDHOEK, June 20 — The European Union (EU) delegation to Namibia on Thursday reaffirmed its commitment to supporting Namibia in strengthening its anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks.
The pledge from Ana Beatriz Martins, EU ambassador to Namibia, follows Namibia’s inclusion on the European Commission’s updated list of high-risk jurisdictions for financial crime monitoring, published on June 10.
“We are actively supporting Namibia’s efforts to strengthen its anti-money laundering framework through dedicated technical assistance, workshops, and training activities between EU and Namibian experts from government, regulators, and the financial sector,” she said.
Namibia’s inclusion on the EU’s high-risk list stems from the Financial Action Task Force (FATF)’s February 2024 plenary meeting, during which Namibia was added to the FATF “grey list” due to identified strategic deficiencies.
To be delisted, Namibia will need to demonstrate sustained progress in implementing the FATF action plan, which includes measures to strengthen the effectiveness of its AML/CFT regime.
Once Namibia is removed from the FATF grey list, the European Commission will assess its progress according to EU-specific criteria before considering delisting.
Namibia has reportedly addressed eight of the 13 strategic deficiencies identified at the time of its grey-listing on Feb. 23, 2024.
