Namibia said on Friday that Paris-based financial crime watchdog the Financial Action Task Force (FATF) was removing it from its “grey list” of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing.
Namibia’s finance ministry said in a statement that the FATF made the announcement on Friday afternoon at a plenary meeting.
The FATF is wrapping up several days of meetings on Friday and is expected to announce the decisions of those meetings later in the day.
The FATF did not immediately respond to a Reuters request for comment.
Namibia was placed on the ‘grey list’ in February 2024 due to 13 deficiencies in its systems to combat money laundering and terrorism financing.
The Southern African country’s finance ministry said an on-site assessment by the FATF was successful after the watchdog earlier found it had largely addressed the 13 deficiencies.
