Eswatini Financial Intelligence Unit

Global AML Landscape

The Financial Action Task Force (FATF) is a global standards-setting body, backed by the political commitment of its 35 member states to achieve global implementation of the FATF Recommendations. The FATF relies on a strong global network of FATF-Style Regional Bodies (FSRBs).  The nine FSRBs have an essential role in promoting the effective implementation of the FATF Recommendations by their membership and in providing expertise and input in FATF policy-making.  Over 190 jurisdictions around the world have committed to the FATF Recommendations through the global network of FSRBs and FATF memberships.

The FATF sets standards and promotes effective legal, regulatory and operational measures for combating money laundering, the financing of terrorism and other threats to the international financial system. More than 190 countries around the world subscribe to these standards. The FATF, together with a global network of regional assessment bodies, measures effective implementation of its standards through peer reviews. The International Monetary Fund and the World Bank incorporate the results of these reviews in their own processes to determine the stability of a country’s financial sector.

Eswatini is part of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), a regional network that aims to prevent money laundering and combat terrorism which is one the FSRBs that have adopted the FATF Recommendations.

The Eswatini Financial Intelligence Unit is one of the domestic government bodies tasked with ensuring that Eswatini aligns with the FATF recommendations. EFIU is currently working towards becoming a member of the Egmont Group of Financial Intelligence Units. The synergy will provide a more robust mechanism for information sharing targeted at combating money laundering and terrorist financing.