March 20th , 2023   Follow us


MUTUAL EVALUATIONS


1ST FUR ZAMBIA- APRIL 2022 .

This report sets out Zambia’s progress in strengthening anti-money laundering and counter terrorist financing measures since its 2019 assessment.
Since its 2019 mutual evaluation, Zambia has made progress in addressing deficiencies. Overall, Zambia has made progress in addressing deficiencies in technical compliance identified in its MER to justify re-rating of Recommendations.

The ESAAMLG considered information provided in support of the request for re-rating of Recommendations 10 and 22 (initially rated PC) and re-rated to LC. Zambia has also made some minor progress in addressing technical compliance deficiencies of Recommendation 7 (Initially rated NC) and re-rated to PC. Although some progress has been made on Recommendations 8, and 16 (initially rated PC), it is not sufficient to justify an upgrade and therefore should not be re-rated due to the moderate deficiencies that still exists.
On Recommendation 5 (initially rated LC) which was being re-rated due to changes to the law, Reviewers recommend that it should be downgraded to PC. There are moderate deficiencies that have been noted. On Recommendations that are being re rated due to the changes made to the FATF Standards, it was approved that R.2 (originally rated LC) should be downgraded to PC.

The new criterion that was added has made the deficiencies to be moderate. R.15 (initially rated PC should not be re-rated due to the moderate deficiencies caused by the changes. R.21 (Initially rated C) to remain C.
Zambia will remain in enhanced follow-up and will continue to inform the ESAAMLG of the progress made in improving the implementation of its AML/CFT measures two months before each Task Force meeting.

  Download Document

 Posted:  24, Jun 22


MUTUAL EVALUATION REPORT OF ZAMBIA- JUNE 2019.

ESAAMLG has completed its assessment of Zambia’s anti-money laundering and counter-terrorist and proliferation financing (AML/CFT) system. The Mutual Evaluation Report of Zambia comprehensively reviews the effectiveness of Zambia’s measures and their level of compliance with the FATF Recommendations. The Council of Ministers of ESAAMLG adopted this report on 04 June 2019 through a round robin process.

  Download Document

 Posted:  13, Jun 19


POST EVALUATION PROGRESS REPORT OF ZAMBIA-2017.

ESAAMLG (2017), First Round Mutual Evaluation - Post Evaluation Progress Report of Zambia on Anti-Money Laundering and Counter-Terrorist Financing Measures.

  Download Document

 Posted:  01, Sep 18


MUTUAL EVALUTATION REPORT FOR THE REPUBLIC OF ZAMBIA.

The ESAAMLG Council Of Ministers Approved And Adopted The Mutual Evaluation Report For The Republic Of Zambia In August 2008.  The Report Was Prepared By ESAAMLG Experts And Before Its Approval By The Council Of Ministers It Was Fully Discussed And Adopted By The ESAAMLG Task Force Of Senior Officials.

Zambia Has Demonstrated Some Commitment To Establish A Strong AML/CFT Framework. This Commitment Is Reflected By The Enactment Of The Prohibition And Prevention Of Money Laundering Act (PPMLA) And The Anti-Terrorism Act As Well As The Establishment Of The Anti-Money Laundering Investigations Unit (AMLIU). The PPMLA Addresses Some Key Fundamental Requirements By Imposing AML Obligations On All Financial Institutions And Some Designated Non-financial Businesses And Professions Covered By International Standards.

The Report Also Identifies Areas Of Deficiencies In The AML/CFT Framework Of The Republic Of Zambia. It Makes Comprehensive Recommendations On Actions That Zambia Needs To Take In The Short And Medium Terms To Develop Its AML/CFT System To Comply Over Time With International Standards.


ESAAMLG Secretariat
December 2009
 

  Download Document

 Posted:  08, Jan 17