Central African Rep Country Summary
Sanctions
UN & EU sanctions in place
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
Central African Republic is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last Mutual Evaluation relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Central African Republic was undertaken in 2023. According to that Evaluation, the Central African Republic was deemed Compliant for 3 and Largely Compliant for 11 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness Compliance ratings.
Sanctions
As a UN member, this country must adhere to sanctions imposed by the UN Security Council, which aims to maintain international peace and security through various measures. Since 1966, the Security Council has established 31 sanctions regimes, including economic sanctions and targeted measures like arms embargoes and travel bans, with a focus on protecting the rights of those affected.
Currently, there are 15 ongoing sanctions regimes addressing issues like political conflict resolution and counter-terrorism. The Central African Republic faces strict arms export prohibitions and asset freezes, while the U.S. has specific policies regulating defense articles and services, allowing exceptions for humanitarian and security purposes.
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 24 |
| World Bank: Control of Corruption Percentile Rank | 9 |
Corruption poses a significant risk for companies in the Central African Republic (CAR), particularly following the political instability and violence that erupted after the 2013 coup. The pre-existing corruption issues have worsened, contributing to the state's fragility, with bribery and extortion being widespread and impunity remaining a critical concern. Despite CAR's ratification of the United Nations Convention Against Corruption, efforts to combat corruption are largely ineffective.
Economy
The Central African Republic has a predominantly agrarian economy, with agriculture accounting for a significant portion of its GDP. Despite its rich natural resources, including diamonds and gold, the country remains one of the poorest globally, struggling with high unemployment and low GDP per capita due to ongoing conflict and instability.
The investment climate in the Central African Republic is hindered by ongoing civil unrest and inadequate infrastructure, resulting in a low ranking for ease of doing business. Foreign investors face significant barriers, including regulatory challenges and security concerns, which are exacerbated by political instability and corruption. Although the country possesses rich mineral resources, the potential for investment remains limited due to these persistent challenges.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
