Botswana Upscales FATF Recommendation Compliance

Recommendation 1 of the FAFT standards requires countries to identify, assess and understand the Money Laundering and Financing of Terrorism risks faced. This requires countries to conduct a national risk assessment and carry out regular reviews to ensure that supervision, monitoring and regulation of supervised entities are commensurate with risks.

Botswana conducted its first national risk assessment in 2017 and the PSP launched the second assessment today, which is envisaged to be completed in August 2023.