Burkina Faso's measures to combat money laundering and the financing of terrorism and proliferation

Publication details

Language

English

Country

Burkina Faso

MER2_Burkina Faso_GIABA_2019.01_FATF comments

This report by the Inter Governmental Action Group against Money Laundering in West Africa (GIABA)  provides a summary of the AML/CFT measures in place in Burkina Faso as at the date of the on-site visit (23 July to 7 August 2018). It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Burkina Faso’s AML/CFT system, and provides recommendations on how the system could be strengthened. 

This Mutual Evaluation Report was adopted by the GIABA at its May 2019 Plenary meeting and the findings of the assessment have also been reviewed and endorsed by the FATF.

 

 

 

GIABA Mutual Evaluation Report of Burkina Faso - 2019

Filename
GIABA-Mutual-Evaluation-Burkina-Faso-2019.pdf
Size
2 MB
Format
application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Burkina Faso Follow-Up Report 2021

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
PC
R.3 - Money laundering offence
C
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
C
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
PC
R.7 - Targeted financial sanctions related to proliferation
PC
R.8 - Non-profit organisations
PC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
LC
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
PC
R.15 - New technologies
PC
R.16 - Wire transfers
LC
R.17 - Reliance on third parties
LC
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
PC
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
C
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
LC
R.24 - Transparency and beneficial ownership of legal persons
PC
R.25 - Transparency and beneficial ownership of legal arrangements
PC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
C
R.28 - Regulation and supervision of DNFBPs
NC
R.29 - Financial intelligence units
C
R.30 - Responsibilities of law enforcement and investigative authorities
C
R.31 - Powers of law enforcement and investigative authorities
C
R.32 - Cash couriers
PC
R.33 - Statistics
LC
R.34 - Guidance and feedback
PC
R.35- Sanctions
LC
R.36 - International instruments
C
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Burkina Faso Follow-Up Report 2021

IO1
LE
IO2
ME
IO3
LE
IO4
LE
IO5
LE
IO6
ME
IO7
LE
IO8
LE
IO9
LE
IO10
LE
IO11
LE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

Earlier reports

  • 4 Nov 2009

    Mutual Evaluation of Burkina Faso Burkina Faso is a member of GIABA, the assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT measures in Burkina Faso was conducted by GIABA.

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