By: Josef Kefas Sheehama
It’s crucial to remember that greylisting does not have to define Namibia’s economy, even though it frequently makes people feel more anxious.
Namibia can continue engaging in Anti-money Laundering and Combating the Financing of Terrorism (AML/CFT) and make improvements to meet Financial Action Task Force (FATF) requirements in the areas of concern.
Our policymakers need to work together with FATF and get off the grey list as quickly as possible.
The challenge arises from this is that Namibia’s reputation is at risk. This speaks to measures to adequately combat financial crimes such as corruption and money-laundering.
This translates to be below international standards. The International Monetary Fund (IFM) defines the FATF as an inter-governmental policy-making body that determines AML/CFT standards to safeguard the global financial system.
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