April 20th , 2021   Follow us


MUTUAL EVALUATIONS


7TH FUR OF ETHIOPIA-DECEMBER 2020

This Follow up Report (FUR) sets out Ethiopia's progress in strengthening anti-money laundering and counter terrorist financing measures. Ethiopia has been in an enhanced follow-up process following the adoption of its Mutual Evaluation Report in 2015.
In line with the ESAAMLG’s Second Round Procedures for Mutual Evaluations and Follow up Process, the country has reported back to the ESAAMLG on the action it has taken since its September 2019 FUR.
Since its 2015 mutual evaluation and its September 2019 FUR, Ethiopia has made progress in addressing deficiencies against Recommendation 7. Overall, review of the progress shows that most of deficiencies which remained following re-rating of R7 in September 2019 have been addressed.
In particular, it was noted that Ethiopia is able to implement freezing action of designated persons or entities without delay using provisions of Regulation 306/2014.
Under Proclamation 1132/2019 mechanism have been introduced that would enable authorities to communicate with FIs and DNFBPs designations or delisting and there is obligation imposed on the Committee to provide guidance on the implementation of TFS.
Ethiopia is now compliant on 11 of the 40 Recommendations, largely compliant on 24 of them and non-applicable on 1 Recommendation. It remains partially compliant on 4 Recommendations will remain in enhanced follow-up and will continue to inform the ESAAMLG of the progress made in improving the implementation of its AML/CFT measures.

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 Posted:  22, Jan 21