FATF Status

The Democratic Republic of Congo is on the FATF List of Countries that have been identified as having strategic AML deficiencies

Latest FATF Statement - 25 October 2024

Since October 2022, when the DRC made a high-level political commitment to work with the FATF and GABAC to strengthen the effectiveness of its AML/CFT regime, the DRC has taken steps towards improving its AML/CFT regime, including by providing training to supervisory authorities and the FIU to build their technical capacity. The DRC should continue to work to implement its FATF action plan to address its strategic deficiencies, including by: (1) developing and implementing a risk-based supervision plan; (2) building the capacity of the FIU to conduct operational and strategic analysis; (3) strengthening the capabilities of authorities involved in the investigation and prosecution of ML and TF; and (4) demonstrating effective implementation of TF and PF-related TFS. 

European Commission List of Countries with Strategic Deficiencies in their AML/CFT Regimes

The Democratic Republic of Congo is on the EU Commission list of High Risk jurisdictions which have been identified as having strategic deficiencies in their anti-money laundering and countering the financing of terrorism (AML/CFT) regimes that pose significant threats to the financial system of the European Union (‘high-risk third countries’).

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Democratic Republic of Congo was undertaken in 2021. According to that Evaluation, he Democratic Republic of Congo was deemed Compliant for 0 and Largely Compliant for 4 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Corruption in the Democratic Republic of the Congo (DRC) is a pervasive issue that significantly hampers the business environment and investment climate, making it one of the least competitive globally. Despite the existence of anti-corruption laws and initiatives, such as the establishment of an anti-corruption office by former President Kabila and promises from President Tshisekedi to combat corruption, the enforcement of these laws remains inconsistent and often politically motivated. The deep-rooted nature of corruption, characterized by clientelism and a lack of transparency, continues to undermine fair competition and economic integrity.

The Democratic Republic of the Congo (DRC) is endowed with vast natural resources, including 1,100 minerals and precious metals, and possesses 80 million hectares of arable land, positioning it as potentially one of the richest countries in the world. However, despite a GDP growth of 4.1% in 2018, the DRC faces significant challenges such as inadequate infrastructure, high levels of corruption, and a large portion of its population living on less than two dollars a day, which hampers its economic development and investment climate.

The investment climate in the Democratic Republic of the Congo (DRC) is challenging, characterized by significant infrastructure deficits, corruption, and a lack of transparency in governance. Despite its rich natural resources and potential for economic growth, the DRC ranks low in the World Bank's Doing Business report, and foreign investors face restrictions, particularly in sectors like agriculture and subcontracting. However, the election of President Felix Tshilombo Tshisekedi has generated optimism among the business community for potential reforms and improved governance.