The Financial Action Task Force plans to put Democratic Republic of Congo on a list of countries subject to increased monitoring, the country’s Communications Minister Patrick Muyaya said on Saturday.
Image: Reuters
Finance Minister Nicolas Kazadi said on Friday that Congo was “under enhanced surveillance” by the Financial Action Task Force and assured ministers that he would follow its recommendations. In addition to further task force scrutiny, countries on the grey list risk reputational damage, ratings adjustments, trouble obtaining global finance, and higher transaction costs, experts say.
Congolese officials are invited to a task force meeting in France from Oct 18-21, according to a note sent on September 30, by the General Secretariat of the Congolese Financial Intelligence Unit to Kazadi, which has been seen by Reuters.