In February 2024, Namibia was greylisted by the Financial Action Task Force (FATF) due to deficiencies in its anti-money laundering/counter-terrorism financing framework.
Namibia has now remediated its strategic deficiencies and will be subjected to an onsite assessment by the Africa Joint Group.

According to a media release from the Financial Intelligence Centre, 13 deficiencies were identified at the time of the greylisting, with the country making a firm political commitment to correct the deficiencies with various reforms being made.

These reforms have yielded positive results in the FATF plenary meeting, which took place in Mexico last week.
They include strengthening risk-based supervision, enhancing preventive measures, improving operational and strategic analysis and the approval of the amended National Counter Terrorism Strategy, among others.

An on-site assessment will be carried out by reviewers of the Africa Joint Group, where they will verify whether reforms are fully implemented.
The Financial Intelligence Centre will now engage with all key stakeholders to ensure readiness for the on-site assessment scheduled for April.
The results of the on-site assessment will be presented at the next FATF Plenary meeting, which is set to take place in June this year.