FATF Status​

Equatorial Guinea is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations​

It should be noted that the new style FATF Mutual Evaluation has not yet been undertaken. 

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Equatorial Guinea was undertaken in 2016. According to that Evaluation, Equatorial Guinea was deemed Compliant for 0 and Largely Compliant for 6 of the FATF 40 + 9 Recommendations.

Equatorial Guinea faces significant challenges regarding corruption and governance, with a weak legislative framework and ineffective implementation of anti-corruption laws despite recent ratifications of international conventions. The government suppresses civil society organizations, hindering their ability to advocate for transparency and accountability, while public contract awards and judicial processes are marred by corruption. Although some measures exist to combat corruption, such as the establishment of the National Committee on the Prevention and Fight Against Corruption, these initiatives remain largely unoperational and insufficient to address the pervasive corrupt practices.

Equatorial Guinea's economy is heavily reliant on foreign direct investment (FDI) in the oil and gas sector, which constitutes a significant portion of government revenues. However, the country faces challenges such as a lack of clear regulations for business operations, underinvestment in critical infrastructure, and a banking sector burdened by nonperforming loans, all of which hinder economic diversification and foreign investment.

The investment climate in Equatorial Guinea is characterized by a lack of clear regulations and infrastructure, which deters foreign direct investment (FDI). Despite the government's intentions to promote private sector participation and economic diversification, concrete actions have been limited, and foreign investors often face overwhelming bureaucracy and uncertainty. Recent measures, such as the reduction of corporate tax rates, have not significantly improved the overall investment environment, which remains complicated by the influence of government officials in business and inconsistent enforcement of laws.