• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Thursday, June 19, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Companies Finance

FATF commends Namibia’s rapid progress on anti-money laundering action plan

by editor
October 29, 2024
in Finance
4
A A
220
SHARES
3.7k
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

The Financial Action Task Force (FATF) has commended Namibia for its swift and proactive measures to address anti-money laundering and counter-terrorism financing gaps. 

You might also like

Namibia’s domestic borrowing rise to N$20 billion

BoN calls on commercial banks to cut lending margins in line with CMA norms

Bank of Namibia keeps repo rate unchanged at 6.75%

The commendation follows Namibia’s voluntary progress report, presented during the recent FATF plenary meeting held from 23 to 25 October 2024 in Paris, France.

The report highlighted the country’s advancement on nine of the thirteen recommended actions set out in its FATF Action Plan.

“The Financial Action Task Force has successfully noted Namibia’s progress in partially addressing nine of the 13 recommended actions in a voluntary progress report that the country presented at the just-ended plenary meeting held from 23-25 October in Paris, France,” said the Director of the Financial Intelligence Centre, Brian Eiseb.

He further explained that Namibia voluntarily chose to update FATF on its progress, even though no mandatory reporting was required this cycle.

FATF noted that Namibia has made significant initial strides in areas such as anti-money laundering risk-based supervision, the filing of beneficial ownership information, and efforts to enhance law enforcement’s capability to investigate complex financial crimes.

FATF acknowledged these improvements as a promising start toward strengthening Namibia’s financial crime framework.

Despite these achievements, Eiseb also pointed out that the country still faces challenges in bolstering its ability to prevent, detect and investigate terrorism-related and other complex financial crimes.

He said that the FATF encouraged Namibia to persist with its robust efforts to address these strategic deficiencies and meet the remaining Action Items.

“Namibia, however, must improve amongst others its capacity to prevent, identify and investigate terrorism-related and other complex financial crimes,” Eiseb said.

He also said that since being added to the FATF grey list in February 2024, Namibia has committed to a timeline that includes compulsory reporting cycles every six months, starting in November 2024 and continuing through May 2026.

Continued progress could allow Namibia to exit the grey list ahead of schedule if it demonstrates effective implementation of its anti-money laundering regime.

“The compulsory reporting ends in May 2026 and is divided into reporting cycles of six months, which implies that Namibia will have to demonstrate that it has largely addressed the remaining 13 action items as set out in the timelines of the Action Plan,” he said.

author avatar
editor
See Full Bio
Tags: africa newsanti-money launderingbank of namibiaBrian Eisebcounter-terrorism financingeconomyfinanceFinancial Action Task Forcenamibianamibia news
Share88Tweet55Share15
Previous Post

FNB , RMB Namibia win multple awards at the Global Finance Best Banks Awards

Next Post

PyroNam’s biochar to reclaim 5,000 hectares of farmland in 10 years

Recommended For You

Namibia’s domestic borrowing rise to N$20 billion

by reporter
June 18, 2025
0
Namibia’s domestic borrowing rise to N$20 billion

The Bank of Namibia (BoN) has announced that the government’s domestic borrowing requirement has increased to N$20 billion for the current fiscal year, up from N$15 billion last...

Read moreDetails

BoN calls on commercial banks to cut lending margins in line with CMA norms

by reporter
June 18, 2025
0
BoN calls on commercial banks to cut lending margins in line with CMA norms

The Bank of Namibia has urged commercial banks to reduce their prime lending margins to levels consistent with other Common Monetary Area (CMA) countries, a move expected to...

Read moreDetails

Bank of Namibia keeps repo rate unchanged at 6.75%

by reporter
June 18, 2025
0
Bank of Namibia keeps repo rate unchanged at 6.75%

The Bank of Namibia has kept the Repo rate steady at 6.75%, a move widely anticipated by analysts, following the Monetary Policy Committee’s (MPC) third bi-monthly meeting held...

Read moreDetails

IMF urges Namibia to cut civil service and reform SOEs and taxes

by reporter
June 17, 2025
0
IMF urges Namibia to cut civil service and reform SOEs and taxes

The International Monetary Fund has called on Namibia to implement specific structural reforms including reducing the public wage bill through civil service reform, restructuring state-owned enterprises (SOEs), and...

Read moreDetails

What to expect from the Bank of Namibia’s interest rate announcement

by reporter
June 16, 2025
0
What to expect from the Bank of Namibia’s interest rate announcement

The Bank of Namibia (BoN) is expected to hold its repo rate at 6.75% when it meets on 18 June, as analysts cite contained but persistent inflation, moderate...

Read moreDetails
Next Post
PyroNam’s biochar to reclaim 5,000 hectares of farmland in 10 years

PyroNam’s biochar to reclaim 5,000 hectares of farmland in 10 years

Related News

Consider your budget when gifting this Valentine’s Day

Consider your budget when gifting this Valentine’s Day

February 9, 2023
NamPower gets 3.8% tariff increase, govt steps in with N$283m subsidy

NamPower gets 3.8% tariff increase, govt steps in with N$283m subsidy

May 13, 2025
Agribank loan book reaches N$3.5 billion

Agribank loan book reaches N$3.5 billion

August 12, 2024

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • Namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.