The Financial Action Task Force (FATF) recently added five new African countries under its enhanced surveillance. The action which was taken by the money-laundering-fighting group after its plenary session in Paris from February 16 to 21 concerned Botswana, Ghana, Mauritius, Uganda, and Zimbabwe. These countries have been advised to reform and adjust their legal, regulatory and administrative framework to deal with deficiencies in their anti-money laundering and terrorist financing acts. North Korea and Iran were alongside identified as high-risk countries in the AML/CFT regimes and the members of FAFT have been admonished to ensure due diligence on the two countries.
