SENEGAL: THIRD AML/CFT ASSESSMENT FOLLOW-UP REPORT

On 29 August, FATF published this report (also available in French), saying that Senegal has made progress in addressing the technical compliance deficiencies identified in the mutual evaluation review and has been reassessed on several FATF Recommendations: Recommendation 6 is re-rated from Non-Compliant (NC) to Partially Compliant (PC); Recommendations 1, 24, 36 and 38 are is re-rated from Partially Compliant (PC) to Largely Compliant (LC); and Recommendation 4 is re-rated from Partially Compliant (PC) to Compliant (C).  It notes that measures have been taken by Senegal to comply with the new requirements of FATF Recommendation 2 and has been reassessed from Largely Compliant (LC) to Compliant (C).  It will remain under enhanced follow-up and will continue to report on its progress in implementing AML/CFT measures.  The next report to FATF-style regional body GIABA in due in November.

https://www.fatf-gafi.org/media/fatf/content/images/GIABA-FUR-Senegal-2022.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

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