European Union Lists Namibia as High-Risk Jurisdiction for Anti-Money Laundering

Strategic Insights -

The European Union (EU) has designated Namibia as a high-risk jurisdiction for anti-money laundering (AML) and counter-terrorism financing (CFT) frameworks, effective 20 days after publication in the EU Official Journal. This decision follows the Financial Action Task Force's (FATF) inclusion of Namibia on its "grey list" due to identified strategic deficiencies. The listing requires banks and financial institutions in the EU27 to apply enhanced due diligence measures when conducting financial transactions involving Namibia. Notably, this listing is not a punitive action and does not prevent Namibia from accessing EU trade, investment, or cooperation funding.

Key Takeaways:

  • Namibia has been listed as a high-risk jurisdiction for AML and CFT frameworks by the European Union, effective 20 days after publication in the EU Official Journal.
  • The decision is based on the FATF's inclusion of Namibia on its "grey list" due to identified strategic deficiencies.
  • The listing requires banks and financial institutions in the EU27 to apply enhanced due diligence measures when conducting financial transactions involving Namibia.
  • This listing is not a punitive action and does not prevent Namibia from accessing EU trade, investment, or cooperation funding.
  • The EU will assess Namibia's progress in implementing the FATF Action Plan, which includes measures to strengthen the effectiveness of its AML/CFT regime, before considering delisting.
  • The EU encourages continued open dialogue and technical engagement with all stakeholders, both public and private, in Namibia.

Statistics:

  • 10 June 2025: The European Commission updated the EU list of high-risk jurisdictions for AML and CFT frameworks.
  • February 2024: The FATF's Plenary Meeting resulted in Namibia's inclusion on the FATF "grey list".
  • 20 days: The listing will go into effect after publication in the EU Official Journal.

Sources:

  • European Union External Action Service, News Release, June 10, 2025.
  • European Commission, Press Release, June 10, 2025.
  • FATF, Plenary Meeting, February 2024.