Staff Reporter
NAMIBIA has been removed from the Financial Action Task Force (FATF) Grey List after successfully addressing strategic deficiencies in its anti-money laundering and counter-terrorism financing framework, marking a significant milestone for the country’s financial sector and international reputation.
Removal from the Grey List is expected to strengthen investor confidence, improve Namibia’s standing in the international financial system and reduce the additional scrutiny often faced by countries under increased monitoring.
The decision was announced at the FATF Plenary meeting held in Paris from 17 to 19 June 2026, where member countries agreed to remove both Namibia and Algeria from the list of jurisdictions under increased monitoring following successful on-site assessments.
The FATF, the global watchdog responsible for combating money laundering, terrorist financing and proliferation financing, said Namibia had completed all actions contained in its agreed action plan within the prescribed timeframe.
Namibia was placed on the Grey List in February 2024 after the FATF identified shortcomings in the country’s anti-money laundering and counter-financing of terrorism (AML/CFT) regime.
According to the FATF, Namibia has since made significant progress in strengthening its financial crime prevention systems and enforcement mechanisms.
The organisation highlighted several key improvements, including stronger risk-based supervision of financial institutions, enhanced inspections and enforcement measures, improved implementation of customer due diligence requirements, and stronger compliance with targeted financial sanctions related to terrorism and proliferation financing.
The FATF further said that Namibia increased the filing of beneficial ownership information by legal entities, strengthened sanctions for non-compliance, and improved cooperation between the Financial Intelligence Centre and law enforcement agencies.
Authorities also enhanced the operational capabilities of investigators and prosecutors dealing with money laundering and terrorist financing cases through additional resources and specialised training.
The FATF said Namibia had demonstrated its ability to effectively investigate and prosecute money laundering and terrorism financing cases and had approved an amended National Counter-Terrorism Strategy.
“Namibia strengthened the effectiveness of its AML/CFT regime to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in February 2024,” the organisation said in its statement.
While welcoming Namibia’s progress, the FATF said the country should continue working with the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) to sustain the improvements achieved.
The decision was announced during the final FATF Plenary under the presidency of Elisa de Anda Madrazo of Mexico.
The same meeting added Bosnia and Herzegovina and Iraq to the Grey List, while maintaining enhanced monitoring measures for other jurisdictions with strategic deficiencies in their financial crime prevention frameworks.
Photo: FATF
