Legal Update/Cabo Verde: National Strategy for the Prevention and Combat of Money Laundering


Cabo Verde has approved a National Strategy for the Prevention and Combat of Money Laundering, the Financing of Terrorism and the Financing of the Proliferation of Weapons of Mass Destruction, according to official legal database Legis-PALOP+TL.

With the adoption of the National Strategy, Cabo Verde, as a Member State of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA), politically commits to align the following legal framework with the best international practices, in order to increase its compliance with the recommendations of the International Financial Action Task Force (FATF) with the highest priority starting in 2023:
⦁ The Prevention of Money Laundering Act 2009 revised in 2016;
⦁ Measures of a preventive and repressive nature against terrorism and its financing and the proliferation of weapons of mass destruction established in 2013 revised in 2016;
⦁ The organization, powers and functioning of the Financial Information Unit (FIU) regulated in 2012;
⦁ The rules governing the Asset Recovery Office and the Asset Management Office created in 2012;
⦁ The Public Prosecutor’s Office 2011.

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The  goal is to guarantee the technical compliance of the referred legal framework with the recommendations in terms of Preventing and Combating Money Laundering (LC), Financing of Terrorism (FT) and Financing the Proliferation of Weapons of Mass Destruction (FP) , making every effort and taking the necessary steps to prevent and combat these harmful phenomena for economic development and to guarantee peace, security and justice in the country, in collaboration with other partners at national level.


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