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Reuters
Reuters
World

Financial crime watchdog adds Congo to money laundering watch list

Congo Financial Action Task Force Patrick Muyaya Communications Democratic Republic of Congo

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.

Congo, a major cobalt and copper producer, will go on the global financial crime watchdog's so-called "grey list" of deficient countries no later than Oct. 21 for shortcomings in stamping out financial corruption, including money laundering and anti-terrorist financing.

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.

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