Monday, October 2, 2023
  • About
  • Advertise
  • Privacy Policy
  • Cookie Policy
  • Contact
  • Subscribe
  • E-edition
  • Login
  • Register
  • Home
  • News
  • Economy
  • E-Edition
  • Columns
  • Companies & Markets
  • In Business With
  • Lifestyle
    • Motoring
  • Sports
    Tumisang Orebonye: Overcoming Against Adversity to Reach for the Stars

    ‘Winning The CAF Super Cup Is A Dream Come True’ – Orebonye

    BAA Needs Over P3m For World Champs

    Botswana’s Sporting Future in Jeopardy: School Sports Suspension Threatens Athletic Excellence

    No House For Tebogo Despite Astral Performance in Budapest

    “No Pressure for Tebogo at Diamond League Finals”

    BOKA Aims to Host Two Prestigious International Karate Competitions

    BOKA Aims to Host Two Prestigious International Karate Competitions

    FM Botswana 2022 conference: transformation towards a greener FM 

    StanChart CEO Underscores Role of UB Marathon in Boosting Botswana’s Sports Tourism

    No House For Tebogo Despite Astral Performance in Budapest

    No House For Tebogo Despite Astral Performance in Budapest

    Trending Tags

    • Subscribe
    No Result
    View All Result
    • Home
    • News
    • Economy
    • E-Edition
    • Columns
    • Companies & Markets
    • In Business With
    • Lifestyle
      • Motoring
    • Sports
      Tumisang Orebonye: Overcoming Against Adversity to Reach for the Stars

      ‘Winning The CAF Super Cup Is A Dream Come True’ – Orebonye

      BAA Needs Over P3m For World Champs

      Botswana’s Sporting Future in Jeopardy: School Sports Suspension Threatens Athletic Excellence

      No House For Tebogo Despite Astral Performance in Budapest

      “No Pressure for Tebogo at Diamond League Finals”

      BOKA Aims to Host Two Prestigious International Karate Competitions

      BOKA Aims to Host Two Prestigious International Karate Competitions

      FM Botswana 2022 conference: transformation towards a greener FM 

      StanChart CEO Underscores Role of UB Marathon in Boosting Botswana’s Sports Tourism

      No House For Tebogo Despite Astral Performance in Budapest

      No House For Tebogo Despite Astral Performance in Budapest

      Trending Tags

      • Subscribe
      No Result
      View All Result
      The Business Weekly & Review
      No Result
      View All Result
      Home News

      Botswana shakes off tax haven tag

      … as FATF removes it from grey-list

      mm by Kabo Ramasia
      November 5, 2021
      in News
      Reading Time: 2 mins read
      0
      Botswana shakes off tax haven tag

      GABORONE 10 March 2021, Botswana president Dr Mokgweetsi E.K Masisi delivers his speech on the occasion of the Africa Private Sector Summit 2021 held under the theme ÒDoing business under the AfricaÓ on 10 March 2021. Masisi joins the summit virtually with the Minister of Trade and Investment Peggy Serame. Masisi addresses the media after delivering the speech. Masisi walking out to address the media after delivering his speech. (Pic: MONIRUL BHUIYAN/PRESS PHOTO)

      0
      SHARES
      133
      VIEWS
      Share on FacebookShare on Twitter

      Botswana was removed from the Financial Action Task Force (FATF) greylist, denoting positive strides in the country’s fight against illicit finance flows, money laundering and terrorism financing.

      The FATF decision was met with jubilations at the Office where a press conference was called to share this good news. President Mokgweetsi Masisi narrated the efforts Botswana made to escape from the notorious list of the countries considered a threat to the international financial system. The removal essentially means that Botswana has shaken off the taglines such as tax havens, and launderers’ paradise that attached have to it over the last few years.

      Said the FATF announcement: “The following countries had their progress since June 2021 reviewed by the FATF: Albania, Barbados, Botswana, Cambodia, the Cayman Islands, Jamaica, Malta, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, the Philippines, Senegal, Uganda, and Zimbabwe. These countries have ‘strategic deficiencies.’”

      Even so, Botswana and Mauritius were removed while Burkina Faso, Haiti and South Sudan opted to postpone their progress reporting. Illustrating the risk that the grey-listing posted, FATF shared a list of countries which are still to be removed from its grey list after failing to satisfy the anti-money laundering (AML) rules as outlined by the organisation.

      The list of those still on the FATF watch list include notorious countries like Malta which is often described as “a country built on dirty money”. The Meditarranean archipelago gained negative publicity in the Panama Papers recently that exposed tax havens used by individuals and shell companies from over 200 countries.

      At some point, Botswana was also blacklisted by the European Union (EU) Commission for the reasons as FATF’s. The removal comes at a time when the world faces more threats of financial crimes because of crypto currencies and flows of money in the era of COVID-19.

      Countries that get blacklisted by FATF are said to be deficient in curbing money-laundering and financing terrorism crimes. Grey-listed nations are those under increased monitoring.

       

       

      Tags: COVID-19Financial Action Task Force (FATF)Mokgweetsi Masisi

      Navigation

      • Home
      • News
      • Economy
      • E-Edition
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      Recent News

      • September 29th Edition
      • FUEL: The Vexing – and Recurring – Question of Security of Supply
      • Hands off Bank of Botswana, IMF Tells Govt
      • BIUST holds 8th Graduation
      • StanChart leverages on its unique position

      Site

      • About
      • Advertise
      • Privacy Policy
      • Cookie Policy
      • Contact
      • Subscribe
      • E-edition

      © 2021 The Business Weekly & Review. All Rights Reserved.

      No Result
      View All Result
      • Home
      • News
      • Economy
      • E-Edition
      • Columns
      • Companies & Markets
      • In Business With
      • Lifestyle
        • Motoring
      • Sports
      • Subscribe

      © 2021 The Business Weekly & Review. All Rights Reserved.

      Welcome Back!

      Login to your account below

      Forgotten Password? Sign Up

      Create New Account!

      Fill the forms below to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?