Madagascar's progress in strengthening measures to tackle money laundering and terrorist financing

ESSAMLG-1st-Follow-Up-Report-Madagascar-2020

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Madagascar has made little progress in addressing the technical compliance deficiencies identified in its 2018 MER.

While the steps taken to address the deficiencies identified under

  • Recommendation 5 (initially rated PC)
  • Recommendation 12 (initially rated PC)
  • Recommendation 13 (initially rated PC)
  • Recommendation 14 (initially rated PC)
  • Recommendation 32 (initially rated PC)

have been noted the information currently provided does not indicate that the country has made sufficient progress to warrant re-rating.

On this basis, it was agreed that ratings for R.5, R.12, R.13, R. 14 and 32, should remain as PC.  

According to the follow-up process, Madagascar will continue to report back to the ESAAMLG on its progress to strengthen its implementation of AML/CFT measures.

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