ESAAMLG’s Mutual Evaluation Report finds Eritrea’s AML/CFT framework largely ineffective, with low risk understanding, weak enforcement, and critical gaps in supervision, financial intelligence, and international cooperation

The ESAAMLG Mutual Evaluation Report highlights that Eritrea lacks an operational Financial Intelligence Unit, effective supervision of financial institutions and DNFBPs, and coordinated AML/CFT policies, leaving the country unable to effectively detect, investigate, or prosecute ML/TF. It also notes critical deficiencies in risk assessment, customer due diligence, targeted financial sanctions, and international cooperation, resulting in minimal asset recovery and weak implementation of preventive measures.