#GreyList hashtag - Bluesky

Namibia has 11 months to exit grey listing FATF Justicia Shipena For Namibia to exit the Financial Action Task Force (FATF)’s grey list, it needs to address five remaining action items by May 2026. This means the country has 11 months to address these action items and avoid remaining on the greylist. On Friday, the Financial Intelligence Centre (FIC) announced that the country has made progress remediating eight out of the 13 strategic deficiencies identified by the FATF. FIC director Bryan Eiseb said that the five remaining items include having fair and strong penalties for breaking AML/CFT rules, and better teamwork between the FIC and law enforcement to use financial intelligence more effectively in investigations. These items also include a sustained increase in money laundering investigations and prosecutions, adequate resources to strengthen the capabilities of authorities, and the ability to identify and investigate terrorist financing activities. “Namibia remains committed to enhancing the effectiveness of its national AML/CTF/CPF regime in a sustainable manner,” said Eiseb. Namibia was grey-listed by the Financial Action Task Force (FATF) in February 2024 and placed under increased monitoring due to concerns about its ongoing shortcomings in effectively implementing international standards on Anti-Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Combating Proliferation Financing (CPF). Eiseb noted that the country’s improvements have been recognised by the FATF, which commended Namibia for its efforts at its plenary meeting in Strasbourg, France. Namibia’s progress was marked by its submission of a second compulsory progress report to the FATF Africa Joint Group, which recommended the progress for adoption at the Plenary. The country has now fully addressed eight of the deficiencies, meeting FATF’s expectations in implementing anti-money laundering, counter-terrorism financing, and counter-proliferation financing measures. However, despite these advancements, Namibia was added to the European Union’s high-risk jurisdiction list on 10 June 2025, following standard EU practice of aligning its list with the FATF grey list. This EU listing requires heightened vigilance by EU banks and financial institutions when dealing with Namibian entities, potentially increasing compliance requirements and transactional costs. However, the EU listing does not undo Namibia’s progress, said Eiseb. “Namibian entities and stakeholders are cautioned that this measure may cause increased compliance requirements and potentially impact transactional costs. The FIC, as national coordinator of efforts to address the action items, is poised and ready to ensure Namibia’s speedy exit from the FATF greylist, of which efforts are supported nationally and are being conducted with the support of various international technical assistance partners,” he stressed. The Business and Intellectual Property Authority (BIPA) last year began working on beneficial ownership. Just before being grey-listed, in September 2023, Namibia implemented a series of legal reforms aimed at preventing greylisting. Parliament amended nine laws, repealed two, and introduced two new ones. These actions followed a 2022 peer review and mutual evaluation conducted by the Eastern and Southern African Anti-Money Laundering Group (ESAAMLG) under the Financial Action Task Force (FATF) framework.

9 months ago

#Namibia #FATF #GreyList #MoneyLaundering #AML

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Namibia earns task force praise for progress on grey list action plan Namibia has been commended by the Financial Action Task Force (FATF) for the strides it has made towards exiting the global financial watchdog’s grey list. The FATF, which placed Namibia on the grey list in February 2024 due to shortcomings in its anti-money laundering (AML) and counter-terrorism financing (CTF) measures, acknowledged the country’s progress at its plenary meeting in Strasbourg, France, this week. Namibia was initially flagged for 13 strategic deficiencies. According to the Financial Intelligence Centre (FIC), the country has fully addressed eight of these, with five remaining action items to be resolved before May 2026. “The FATF has recognised our considerable efforts and the tangible results we have achieved in just over 13 months,” FIC director Bryan Eiseb said in a statement on Friday. He said Namibia’s progress follows the submission of its second compulsory progress report to the FATF Africa Joint Group, which recommended the update for adoption at the plenary. Namibia’s remaining areas for improvement include ensuring that sanctions for breaches of AML and CTF obligations are effective and dissuasive, improving cooperation between the FIC and law enforcement, increasing prosecutions of money laundering offences, enhancing resources for investigative agencies, and boosting capacity to identify and investigate terrorist financing. “The government has pledged its absolute commitment to enhance the effectiveness of our AML, CTF and counter-proliferation financing regime in a sustainable manner,” Eiseb said. Despite this progress, Namibia was added to the European Union’s (EU) list of high-risk jurisdictions on Tuesday. The EU’s listing aligns with the FATF grey list but comes more than a year after Namibia’s initial grey listing. Eiseb urged Namibian businesses and financial institutions to be mindful of the possible implications. “The EU listing does not undo the exceptional progress Namibia is making. However, it does mean EU banks and financial institutions will apply increased vigilance when dealing with Namibian entities. This could result in higher compliance requirements and potentially increased transactional costs,” he said. The post Namibia earns task force praise for progress on grey list action plan appeared first on The Namibian.

9 months ago

#Namibia #FATF #GreyList #FinancialActionTaskForce #MoneyLaundering

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Aaj News

@aajnews.bsky.social

10 months ago

بھارت کی جانب سے ایف اے ٹی ایف کو جھوٹ سے بھرا ڈوزیئر پیش
مزید پڑھیئے: www.aaj.tv/news/30462189
#AajNews #FATF #GreyList #Pakistan #India #FinancialSecurity

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Lucas McNelly

@lmcnelly.com

11 months ago

For #FirstPageFriday, my #GreyList script EXITS, about a Federal Judge who has to get his fugitive son out of town one step ahead of the law.

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Namibia Eyes Exit From Financial Task Force Greylist [Namibian] Namibia has a good chance of exiting the Financial Action Task Force (FATF) greylist through international technical assistance.

1 year ago

#Namibia #FATF #FinancialActionTaskForce #Greylist #InternationalAssistance

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Namibia eyes exit from financial task force greylist Namibia has a good chance of exiting the Financial Action Task Force (FATF) greylist through international technical assistance. European Union (EU) head of cooperation Federico Berna said this when he addressed a two-day workshop in Windhoek last week, titled ‘Turning Financial Intelligence into Evidence – Addressing Serious, Standalone and Complex Money Laundering Cases’. “We believe that with dedicated effort and cooperation, Namibia can achieve this goal, just as seven other countries supported by the EU Global Facility have successfully exited the greylist,” he said. The Bank of Namibia says Namibia was added to the FATF greylist in February 2024 due to concerns over its effective implementation of international anti-money laundering measures, countering the financing of terrorism, and countering proliferation financing standards. In response, the country has committed to a schedule of compulsory reporting every six months, beginning in November 2024 and concluding in May 2026. Berna said fighting money laundering and terrorist financing is crucial for the stability and integrity of Namibia’s financial systems. “These illicit activities divert resources from productive uses, undermine market integrity and threaten the stability of financial systems,” he said. Berna said the workshop was specifically tailored to the institutions within the law-enforcement chain, and expressed confidence in supporting Namibia’s efforts to exit the FATF greylist through technical assistance. According to a statement issued by EU delegation to Namibia, spokesperson Twaku Kayofa said the workshop brought together key institutions involved in financial investigations and prosecutions. It was organised by the EU-funded Anti-Money Laundering and Counter-Terrorist Financing Global Facility project, in collaboration with Namibia’s Financial Intelligence Centre (FIC), and focused on strengthening cooperation and addressing systemic challenges in detecting, investigating and prosecuting money laundering cases. Stakeholders, including judges, prosecutors and law-enforcement experts from France, Seychelles and Spain, made presentations at the workshop aimed to bridge gaps in inter-agency cooperation and equip participants with the best practices in financial crime prosecution. According to the EU statement, collaboration and sharing information were crucial in combating money laundering and terrorist financing. “However, financial crime investigations often faced barriers such as legal constraints, technological incompatibilities and procedural inefficiencies that hindered the effective transformation of financial intelligence into actionable courtroom evidence. “The workshop provided a platform to tackle these issues and enhance coordination between the FIC, law enforcement and the Office of the Prosecutor General,” the EU said. Addressing the workshop, FIC Namibia director Bryan Eiseb said: “Financial intelligence is a critical tool in understanding how money moves and identifying money laundering as well as the patterns behind complex financial crimes, which is marred by the obscurity of intertwined corporate structures.” He said financial intelligence often comes from various sources and should be used for conducting parallel financial investigations with the aim of identifying and recovering all the proceeds of financial crimes. The workshop built on previous capacity-building initiatives conducted both in Windhoek and online, also covering topics such as beneficial ownership. Other workshops have been held in countries including Jordan, Zambia, Türkiye, Seychelles, South Africa, the United Arab Emirates, Bolivia and Argentina, equipping them with the necessary tools to tackle financial crime effectively. The FATF is the global money laundering and terrorist financing watchdog which sets international standards to prevent these illegal activities and the harm they cause to society. The post Namibia eyes exit from financial task force greylist appeared first on The Namibian.

1 year ago

#Namibia #FATF #Greylist #MoneyLaundering #AntiMoneyLaundering

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Namibia eyes exit from financial task force greylist - Namibian Namibia eyes exit from financial task force greylist Namibian

1 year ago

#Namibia #FinancialTaskForce #Greylist #Economy #FinancialInclusion

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Rosemary Griggs

@rgriggs.bsky.social

1 year ago

True story, after stumbling upon a mysterious murder connected to high level corruption, a tenacious FBI agent races against time to prove the truth as danger closes in around his family. Top 2% @coverfly.bsky.social Top Script @theblcklst.bsky.social #Greylist #Fea #My #Th #scriptsky #screenpit

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C. Jeffery Evans

@cjevans.bsky.social

1 year ago

SCREENWRITERS

Anyone with any experience with:

#moviebytes registration/membership
#stage32
#blacklist
#greylist
#roadmapwriters
#raindance

#screenwriting #screenwriters #movies #television

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Jim Wurst

@jimwurst.bsky.social

1 year ago

With all the chaos in Washington today, not sure I'll be able to focus on #SpecScriptShoutout Day, unless I simply freshen up my #GreyList recommendations.

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JP Libby

@janlibby.bsky.social

1 year ago

That's fantastic!!! Go #GreyListWriters #GreyList

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Adele

@theartofcharts.bsky.social

1 year ago

If you've been on the #GreyList, you already know that Brad's organisational skills are top notch.

IMO he's been great at keeping folks on the list informed, giving good lead time for responses, has such a sharp eye for detail - and he's excellent at following up.

#scriptsky

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Brett Nicholson

@aggiebrett.bsky.social

1 year ago

Attn @thegreylist.bsky.social

#GreyList #Scriptsky

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AML Newsletter📢 AML Newsletter📢

1 year ago

Why is the FATF Plenary so important?
The link between the FATF lists + the Money Laundering Regulations

Read more: zurl.co/jMwgW

#fatf #plenary #blacklist #greylist
#aml #antimoneylaundering #compliance #regulation #mlrs #moneylaunderingregulations #risk #riskassessments #cmra #mlro #colp #fwra

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1 year ago

Why is the FATF Plenary so important?

Read our Newsletter
zurl.co/jMwgW

#fatf #plenary #blacklist #greylist
#aml #antimoneylaundering #sanctions #compliance #regulation #mlrs #moneylaunderingregulations #risk #riskassessments #cmra #mlro #colp #fwra

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1 year ago

🔴 FATF February 2025 Plenary.
👀 Watch the announcement
📕Read the listed countries

zurl.co/jMwgW

#fatf #plenary #blacklist #greylist
#aml #antimoneylaundering #sanctions #compliance #regulation #mlrs #moneylaunderingregulations #risk #riskassessments #cmra #mlro #colp #fwra

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FATF Week - February 2025 The second Financial Action Task Force (FATF) Plenary under the two-year Mexico Presidency of Elisa de Anda Madrazo will take place on 19 – 21 February 2025, concluding FATF Week which starts on 17 Fe...

1 year ago

Later today there will be aFATF press conference regarding the February Plenary
#fatf #aml #blacklist #greylist

www.fatf-gafi.org/en/publicati....

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