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From Punitive Listing to Supported Compliance...

From Punitive Listing to Supported Compliance: A Policy Brief for African FATF-Style Regional Bodies

Greylisting by the Financial Action Task Force (FATF) is costly for African economies. Africa accounts for nearly 30% of jurisdictions on the list, and listing is associated with capital inflows falling by an average of 7.6% of GDP. The process behind it also gives affected countries little voice.

This brief does not argue for weaker anti-money laundering controls. It calls for a compliance compact between African FATF-style regional bodies (FSRBs) and the FATF. Under it, country-owned remediation, pre-evaluation support and independent review come before any public listing. It sets out six recommended actions and an 18-month roadmap for FSRB leaders.

Read the Full Policy Brief (PDF)
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