Guinea Bissau Country Summary
Sanctions
High Concern
FATF AML Deficient List
Low Concern
Terrorism
Medium Concern
Corruption
High Concern
US State ML Assessment
High Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Low Concern
Offshore Finance Center
Low Concern
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.
If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.
Anti Money Laundering
FATF Status
Guinea Bissau is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Guinea Bissau was undertaken in 2022. According to that Evaluation, Guinea Bissau was deemed Compliant for 5 and Largely Compliant for 11 of the FATF 40 Recommendations. It was rated Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.
Sanctions
Guinea Bissau, as a UN member, must adhere to sanctions aimed at maintaining international peace and security. The UN Security Council has established various sanctions regimes since 1966, including economic sanctions and targeted measures like travel bans and asset freezes. These sanctions are designed to support political stability and peaceful transitions rather than merely serve as punitive actions.
Currently, there are ongoing sanctions against Guinea Bissau, including travel restrictions and asset freezes targeting individuals who undermine political processes. The EU and UN measures, initiated in 2012, focus on preventing actions that disrupt stability and the rule of law in the country.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 21 |
| World Bank: Control of Corruption Percentile Rank | 13 |
Economy
Guinea-Bissau's economy is heavily reliant on agriculture, with key exports including fish, cashew nuts, and groundnuts. The country struggles with high poverty rates and a low GDP per capita, compounded by political instability that has historically hindered economic growth and led to macroeconomic imbalances.
The investment climate in Guinea-Bissau is significantly affected by bureaucratic inefficiencies, with lengthy business registration processes that rank among the longest in the world. Corruption and systemic banking instabilities further complicate the landscape, deterring potential foreign investors. Despite these challenges, the country's membership in the Organization for the Harmonization of Business Law in Africa suggests a commitment to improving its business environment.
Buy Full Guinea Bissau Report
$125 one time payment
- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings