Context
The system for curbing illicit financial flows (IFFs) in the Democratic Republic of the Congo is ineffective by international standards. Each year, the country loses around nine billion US dollars to money laundering, corruption and illegal trade, which severely undermines the financing of public services.
Since 2022, the country has been on the grey list published by the Financial Action Task Force (FATF), which monitors whether countries are complying with international standards to prevent illicit financial flows. The 2023 national risk analysis highlights the misappropriation of public funds, corruption and illegal trade in raw materials, in particular, as key risk factors.
Objective
The system to combat illicit financial flows in the Democratic Republic of the Congo has been improved at national and local level in line with international standards, using a development-oriented and risk-based approach.
Approach
The project’s measures are helping to implement the national action plan to combat money laundering and terrorist financing. The project is providing support in the form of practical advice, developing institutional capacities and improving cross-sectoral cooperation.
Specifically, this includes:
- Training investigative and supervisory authorities, such as the National Financial Intelligence Unit (Cellule Nationale de Renseignement Financier, CENAREF), the judiciary and customs
- Producing sectoral risk analyses and guidelines
- Enhancing digital monitoring systems
- Raising awareness in particularly affected professions
In this way, the project is seeking to make investigative and supervisory authorities more effective, improve compliance with international standards, and contribute to the fight against IFFs in line with national development objectives.