Scarcely month after its proposal, the Financial Action Task Force (FATF) has taken off Ghana from the list of high risk, underdeveloped nations with strategic deficiencies in anti-money laundering and countering of illegal intimidation financing.
The European Union (EU) had indicated of removing Ghana from the list after Ghana’s President Nana Addo Dankwa Akufo-Addo met the President of the European Council, Charles Michel, in Brussels last month.
The EU had praised Ghana for the efforts made in carrying out the activity plan of the International Country Risk Guide (ICRG) in record time.
In its most recent report, FATF noted that Ghana has strengthened the effectiveness of its regime of anti-money laundering and countering terrorism financing and also addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in October 2018.
Ghana is therefore no longer subject to the FATF’s increased monitoring process. “Ghana will continue to work with GIABA to improve further its AML/CFT regime.