March 8th , 2021   Follow us


MUTUAL EVALUATIONS


1ST FUR OF MADAGASCAR-DECEMBER 2020

This Follow up Report (FUR) sets out Madagascar's progress in strengthening anti-money laundering and counter terrorist financing measures. Madagascar has been in an enhanced follow-up process following the adoption of its Mutual Evaluation Report in September 2018.
In line with the ESAAMLG’s Second Round Procedures for Mutual Evaluations and Follow up Process, the country has reported back to the ESAAMLG on the action it has taken.
Since its 2018 mutual evaluation, Madagascar has made little progress in addressing the technical compliance deficiencies identified in its MER despite the country has enacted a new AML/CFT Law. While the steps taken to address the deficiencies identified under R. 5, 12, 13, 14 and 32 (which all were 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.
Madagascar is now compliant on 5 of the 40 Recommendations and largely compliant on 9 of them. It remains non-compliant on 13 Recommendations and partially compliant on 13 Recommendations.
Madagascar 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.

  Download Document

 Posted:  22, Jan 21