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

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English

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This follow-up report sets out the progress that Cabo Verde, member of FATF-Style Regional Body, Inter Governmental Action Group against Money Laundering in West Africa (GIABA) has made in improving its level of compliance with the FATF standards, since their 2019 mutual evaluation.

Overall, Cabo Verde has not made sufficient progress in addressing the technical compliance deficiencies in the MER and has been re-rated on 2 Recommendations.

Recommendation 7 has been re-rated from LC to PC
Recommendation 21 has been re-rated from C to LC

Cabo Verde will remain on the Enhanced Follow-up process and will continue to report to the GIABA Plenary on progress to strengthen its implementation of AML/CFT measures.

GIABA Follow-Up Report Cabo Verde-2021

Filename: GIABA-FUR-Cabo-Verde-2021.pdf
Size: 234 KB
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.

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

Earlier reports

9 Aug 2019

Cabo Verde's measures to combat money laundering and the financing of terrorism and proliferation This report provides a summary of the AML/CFT measures in place in Cabo Verde as at the date of the on-site visit (27 November, 2017 to 13 December, 2017). It analyses the level of compliance with the FATF 40 Recommendations, the level of effectiveness of its AML/CFT system and makes recommendations on how the system could be strengthened.
7 Sep 2008

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

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The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

Read more Consolidated assessment ratings

The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024