Tanzania was removed from the G7-backed FATF money laundering ‘grey list’ in June 2025 after fulfilling all required reforms. The FATF highlighted actions taken in supervision, enforcement, and risk assessment, including strengthened inspections, sanctions, and efforts to trace and seize criminal proceeds.
In its statement, FATF stressed that “FATF welcomes the United Republic of Tanzania’s significant progress in improving its anti-money laundering and counter-financing of terrorism (AML/CFT) regime.
The FATF confirmed that Tanzania implemented a series of reforms, including: -(1) improving risk-based supervision of financial institutions and designated non-financial businesses and professions by conducting inspections on a risk-sensitive basis and applying effective, proportionate, and dissuasive sanctions for non-compliance; -(2) demonstrating the capability of authorities to conduct a range of investigations and prosecutions of money laundering in line with the country’s risk profile; -(3) ensuring that law enforcement agencies take measures to identify, trace, seize, and confiscate proceeds and instrumentalities of crime; -(4) conducting a comprehensive terrorism financing risk assessment and starting the implementation of a national counter-financing of terrorism strategy, as well as demonstrating the ability to conduct terrorism financing investigations and pursue prosecutions in line with the risk profile; -(5) increasing awareness among the private sector and competent authorities regarding targeted financial sanctions related to terrorism and proliferation financing; -(6) carrying out a terrorism financing risk assessment for non-profit organizations in accordance with FATF standards, using it as the basis to develop an outreach plan.
Read more at: https://www.tanzaniainvest.com/economy/fatf-money-laundering-grey-list-removed-reforms
