Global watchdog retains 4 East Africa countries on 'grey list'
When FATF places a jurisdiction under increased monitoring, it means the country has committed to resolve quickly the identified deficiencies within agreed timeframes. PHOTO | SHUTTERSTOCK
Global financial crime watchdog, Financial Action Task Force (FATF) has retained four East African countries on the ‘grey’ list in its latest review of countries’ commitment to fighting money laundering, terrorist financing, and arms proliferation financing. This may dampen hopes of promoting the region as an attractive investment destination.
FATF is an inter-governmental organisation set up to combat money laundering and terrorism financing by setting global standards and checking if countries respect them.
