ETHIOPIA: AML/CFT EVALUATION FOLLOW-UP REPORT

On 9^th November, the regional FATF-style body (ESAAMLG) published the 5^th Enhanced Follow Up Report and Technical Compliance Re-Rating for Ethiopia and dated September 2018.  The mutual evaluation of Ethiopia was conducted by the World Bank and the subsequent mutual evaluation report (MER) was approved by the ESAAMLG Council of Ministers in June 2015.  The amended markings are –

The report says that Ethiopia has made sufficient progress in addressing some of the technical compliance deficiencies identified in its MER.  The deficiencies outstanding under R.1 (originally rated Non-Compliant) have all been substantially addressed and Ethiopia has been re-rated Compliant.  The jurisdiction has also addressed the deficiencies in respect of Recommendation 14 (initially rated Partly Compliant) and the Task Force approved its re-rating to Compliant.  Recommendation 6 has been re-rated LC on the basis of Procedures for Freezing of Terrorist Ethiopia will remain in enhanced follow-up and will continue to report bi-annually on its progress in improving and implementing its AML/CFT measures.

https://www.esaamlg.org/reports/FUR%20Ethiopia-%20September%202018.pdf

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017