Guinea Bissau Country Summary
Sanctions
UN/EU
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.
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 imposed by the United Nations to maintain international peace and security. The UN Security Council has established various sanctions regimes since 1966, including travel bans and asset freezes, to address threats to global stability. These measures are increasingly mindful of the rights of those affected and are part of a broader strategy that includes peacekeeping and peacemaking efforts.
As of October 2023, Guinea Bissau is subject to both UN and EU sanctions, which include travel restrictions and asset freezes targeting individuals who undermine political stability. These sanctions were introduced to support the restoration of constitutional order and to prevent actions that threaten the rule of law in the country.
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | 22 |
| World Bank: Control of Corruption Percentile Rank | 13 |
Economy
Guinea-Bissau's economy is extremely poor and heavily reliant on agriculture, with key exports including cashew nuts and fish. The country faces significant challenges such as systemic banking instabilities, corruption, and political instability, which have led to increased poverty, with over two-thirds of the population living below the poverty line.
The investment climate in Guinea-Bissau is severely affected by a long history of political instability, which poses significant challenges for businesses. The lengthy process of registering a new business, averaging 233 days, is among the longest globally, further complicating the investment landscape. Despite these hurdles, the country's membership in the Organization for the Harmonisation 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
