EU listing of Botswana is hypocritical

Friday, May 15, 2020

Pushing on: Finance Minister, Thapelo Matsheka has taken over the fight against adverse EU listings PIC: THALEFANG CHARLES

On May 7, 2020, the European Commission outlined a new action plan to combat money laundering and terrorism financing in European member countries.

The intention is to develop and implement the plan over the next 12 months with the aim to improve the enforcement, supervision, and coordination of the EU’s rules on combating money laundering and terrorist financing. According to Executive Vice-President Valdis Dombrovskis:

“We need to put an end to dirty money infiltrating our financial system”. I could not agree more with him. Recent scandals involving European banks have highlighted the dismal failure of EU anti-money laundering and counter financing of terrorism (AML/CFT) systems.

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