WINDHOEK, July 8 (Xinhua) -- The European Union (EU) on Monday commenced a specialized training workshop aimed at enhancing Namibia's capabilities in tackling money laundering, terrorist financing, and related crimes, in response to the country's recent inclusion in the Financial Action Task Force's (FATF) grey list.
Organized in collaboration with Namibia's Financial Intelligence Center (FIC), the week-long workshop is part of the EU's technical assistance initiative to address deficiencies identified by the FATF.
With more than 30 Namibian authorities in attendance, the workshop aims to equip participants with the skills needed to effectively implement actions outlined in the FATF action plan. This training is pivotal in enhancing Namibia's adherence to international standards and FATF regulations, facilitating its expedient removal from the grey list.
EU Ambassador to Namibia Ana Beatriz Martins in a statement underscored the EU's commitment to bolstering Namibia's financial systems and helping the country achieve compliance with international standards.
"We are therefore very delighted to offer our support to Namibia, not only to exit the grey list, but to also strengthen her framework in fighting illicit financial flows, money laundering, and forms of organized crime," she said.
Meanwhile, Director of FIC Namibia Bryan Eiseb emphasized the need for collaborative efforts across state agencies, the private sector, and international partners to combat financial crime effectively. He stressed the importance of utilizing all available tools in the criminal justice system to detect and intervene in financial crimes, thereby reinforcing the message that crime does not yield profit.
In February, Namibia was grey listed by the FATF due to concerns over its compliance with international standards.
The FATF identified deficiencies in Namibia's effectiveness in six out of 11 key areas, highlighting issues in safeguarding its financial system from abuse related to money laundering, terrorist financing, and proliferation financing. ■
