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Côte d'Ivoire: Report on Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2023/308, IMF Staff Country Reports from International Monetary Fund

Abstract: Côte d’Ivoire has achieved progress in countering money laundering and terrorist financing (ML/TF) since the 2012 mutual evaluation, particularly with the adoption of the Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Law in 2016, the drafting of a national risk assessment (NRA) and a national strategy, as well as awareness-raising among various actors regarding AML/CFT issues. The effects of this endeavor have begun to materialize, notably with the new impetus provided to judicial investigations and proceedings related to financial crime. As long as they are sustained, strengthened, and based on a deeper understanding of risks, these reforms should bear more fruit in the coming years. Nevertheless, certain structural elements, such as the prevalence of cash and magnitude of the informal sector to the country’s economy, the cross-border nature of offenses, as well as corruption, continue to challenge the effectiveness of the AML/CFT regime.

Keywords: C. terrorism financing; assessment methodology; TF risk; government of Côte d'Ivoire; TF threat; Anti-money laundering and combating the financing of terrorism (AML/CFT); Terrorism financing; Proliferation financing; Corruption; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 17
Date: 2023-08-23
New Economics Papers: this item is included in nep-iue
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Handle: RePEc:imf:imfscr:2023/308