Ghana removed from list of countries under strict monitoring for money laundering

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Global money-laundering watchdog, the Financial Action Task Force has removed Ghana from a list of countries under increased monitoring after the country strengthened the effectiveness of its Anti-Money Laundering and Combating the Financing of Terrorism regime.

The Task Force in a publication said Ghana has addressed related technical deficiencies to meet the commitments in its action plan regarding the strategic deficiencies it identified in October 2018.

The Watchdog said Ghana will continue to work with the Inter-Governmental Action Group against Money Laundering in West Africa to improve further its anti-money laundering regime.

The Financial Action Task Force has since February this year reviewed the anti-money laundering regimes of Albania, Barbados, Botswana, Cambodia, Cayman Islands, Ghana, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Uganda, and Zimbabwe and welcomed the progress made by these countries in combating money laundering and terrorist financing, despite challenges posed by COVID-19.

Burkina Faso and Senegal were given the opportunity and chose to defer reporting due to the pandemic

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