United States Welcomes Eritrea’s Observer Status in the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG)

The United States is encouraged to learn that on September 6 the Council of Ministers of the Eastern and Southern Anti-Money Laundering Group (ESAAMLG) responded to a request from Government of the State of Eritrea by admitting Eritrea as an Observer state in the group � a Financial Action Task Force (FATF) style regional body � as the first step in the process of admitting Eritrea as a full ESAAMLG member. This action builds on a number of steps that Eritrea has taken to update and strengthen its law, policies and procedures related to AML/CFT. ESAAMLG admission and the membership accession procedures to follow are valuable components to demonstrating a robust and effective regulatory regime against global money laundering and terrorist financing threats.

The United States welcomes Eritrea’s continuing positive steps in AML/CFT, as well our strengthened bilateral partnership in this area following the June 5-6, 2019 visit to Asmara of a U.S. Treasury Department delegation, which included an AML/CFT policy specialist.

Source: Dehai Eritrea Online