The European Commission announced on Tuesday, 20 December 2022, that it added several countries, including the Democratic Republic of Congo (DRC), to its list of third countries with strategic deficiencies in their anti-money laundering regime of capital and the financing of terrorism.

The European executive is following a decision last October by the FATF, which is a Financial Action Task Force under the umbrella of OCDE ( Organisation de coopération et de développement économiques ). Gibraltar, Mozambique, Tanzania and the United Arab Emirates are among the countries added, while others have been removed, such as Nicaragua, Pakistan and Zimbabwe. The updated list now includes 25 countries.

European financial institutions and other “subject entities” are required to apply increased vigilance to transactions involving third-country jurisdictions included on this list. According to the Commission, “the Democratic Republic of Congo, Gibraltar, Mozambique, Tanzania and the United Arab Emirates have made high-level written political commitments to address the deficiencies identified and have each developed an action plan to this effect with the FATF”.