GABAC’s 2nd Follow-up Report on Congo shows AML/CFT reforms advancing, but enforcement and asset recovery remain weak, alongside gaps in investigations and financial intelligence use

GABAC’s second enhanced follow-up report upgrades Recommendations 6 and 7 from non-compliant to partially compliant, Recommendations 10 and 12 from partially compliant to largely compliant, and Recommendations 16 and 20 from partially compliant to compliant, reflecting progress on sanctions, customer due diligence, politically exposed persons, wire transfers and suspicious transaction reporting. However, Congo remains in enhanced follow-up…