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Sanctions:
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
The Gambia is not a regional financial center, although it is a
regional re-export center. Goods and capital are freely and legally
traded in the Gambia, and, as is the case in other re-export
centers, smuggling of goods occurs. Customs officials cooperate
with counterparts in Senegal to combat smuggling along their
common border, although The Gambia has limited capacity to fully
monitor its porous borders. The lack of resources hinders law
enforcement’s ability to combat possible smuggling despite
political will. The Gambia is not a known money laundering hub in
the region. It is unknown to what extent laundering is related to
narcotics, but the seizure of more than two tons of cocaine in May
and June 2010 has heightened concerns that some drug-related
money may be getting into the country. The rapid growth of
commercial banks entering the local market in the past few years,
currently 14, also raises possible money laundering concerns.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks and insurance companies
Enhanced due diligence procedures for PEPs: Foreign: YES
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, insurance companies, money
exchanges, money transfer agencies, real estate agencies, credit
unions, casinos, and lotteries
Number of STRs received and time frame: Not available
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 12 in 2010
Convictions: Three - May to December 2010
Assets forfeited: criminally: $24,358 in 2010 civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
The Gambia is a member of the Intergovernmental Action Group
against Money Laundering in West Africa (GIABA), a Financial
Action Task Force-style regional body. Its most recent mutual
evaluation can be found here: http://www.giaba.org/index.php?
type=c&id=42&mod=2&men=2
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Government of The Gambia (GOTG) should examine its re-
export sector to determine whether it is being used to launder
criminal proceeds. The 2003 Money Laundering Act, currently
under review, should be expanded to include a comprehensive
range of predicate offenses and designated non-financial
businesses and professions. The GOTG should provide adequate
resources and capacity to its law enforcement, supervisory and
customs personnel so they are able to effectively fulfill their
responsibilities. Its fledgling financial intelligence unit should be
given autonomy and should be strengthened both in terms of
personnel and training to help it operate effectively. The GOTG
should become a party to the UN International Convention for the
Suppression of the Financing of Terrorism and the UN Convention
against Corruption.
____________________________________________________
US State Dept Narcotics Report 2011 (introduction):
No report available
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2 Watch List)
The Gambia is a source, transit, and destination country for
children and women subjected forced labor and sex trafficking.
Within The Gambia, women and girls and, to a lesser extent, boys
are subjected to sex trafficking and domestic servitude. In the
past, boys attending Koranic schools run by teachers known as
marabouts were often forced to beg in the streets, but the
Government of The Gambia reports that an increasing number of
marabouts now force children into street vending, where they are
more difficult to identify. Women, girls, and boys from West
African countries − mainly Senegal, Sierra Leone, Liberia, Ghana,
Nigeria, Guinea, Guinea Bissau, and Benin – are recruited for
exploitation in the sex trade in The Gambia, in particular to meet
the demands of European tourists seeking sex with children.
Observers believe organized networks use travel agencies to
promote child sex tourism, though none have been uncovered.
There are reports that Europe-bound smuggling operations
transiting Cape Verde and the Canary Islands using fishing boat
include trafficking victims, but these reports may be based on a
failure to distinguish human trafficking from the separate crime of
migrant smuggling.
The Government of The Gambia does not fully comply with the
minimum standards for the elimination of trafficking; however, it is
making significant efforts to do so. Despite these efforts, the
government did not demonstrate increasing efforts to address
human trafficking over the previous year; therefore, The Gambia
is placed on Tier 2 Watch List. The Gambian government failed to
use its adequate anti-trafficking legal framework to investigate or
prosecute any suspected trafficking cases during the reporting
period. While it began to designate staff to serve on the National
Agency Against Trafficking in Persons, it did not complete efforts
to bring this agency into formal existence, as mandated by a 2007
law. The government claimed to monitor boys in street vending
and unaccompanied girls in resorts known to be destinations of
sex tourists, though it did not identify or provide protective
services to any victims among these populations.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2009
No report available
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
The Gambia is not a regional financial center, although it is a
regional re-export center. Goods and capital are freely and legally
traded in the Gambia, and, as is the case in other re-export
centers, smuggling of goods occurs. Customs officials cooperate
with counterparts in Senegal to combat smuggling along their
common border, although The Gambia has limited capacity to fully
monitor its porous borders. The lack of resources hinders law
enforcement’s ability to combat possible smuggling despite
political will. The Gambia is not a known money laundering hub in
the region. It is unknown to what extent laundering is related to
narcotics, but the seizure of more than two tons of cocaine in May
and June 2010 has heightened concerns that some drug-related
money may be getting into the country. The rapid growth of
commercial banks entering the local market in the past few years,
currently 14, also raises possible money laundering concerns.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: List approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks and insurance companies
Enhanced due diligence procedures for PEPs: Foreign: YES
Domestic: NO
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, insurance companies, money
exchanges, money transfer agencies, real estate agencies, credit
unions, casinos, and lotteries
Number of STRs received and time frame: Not available
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 12 in 2010
Convictions: Three - May to December 2010
Assets forfeited: criminally: $24,358 in 2010 civilly: Not available
RECORDS EXCHANGE MECHANISM:
With U.S.: YES
With other governments/jurisdictions: YES
The Gambia is a member of the Intergovernmental Action Group
against Money Laundering in West Africa (GIABA), a Financial
Action Task Force-style regional body. Its most recent mutual
evaluation can be found here: http://www.giaba.org/index.php?
type=c&id=42&mod=2&men=2
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Government of The Gambia (GOTG) should examine its re-
export sector to determine whether it is being used to launder
criminal proceeds. The 2003 Money Laundering Act, currently
under review, should be expanded to include a comprehensive
range of predicate offenses and designated non-financial
businesses and professions. The GOTG should provide adequate
resources and capacity to its law enforcement, supervisory and
customs personnel so they are able to effectively fulfill their
responsibilities. Its fledgling financial intelligence unit should be
given autonomy and should be strengthened both in terms of
personnel and training to help it operate effectively. The GOTG
should become a party to the UN International Convention for the
Suppression of the Financing of Terrorism and the UN Convention
against Corruption.
____________________________________________________
US State Dept Narcotics Report 2011 (introduction):
No report available
For Full report, click here
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 2 Watch List)
The Gambia is a source, transit, and destination country for
children and women subjected forced labor and sex trafficking.
Within The Gambia, women and girls and, to a lesser extent, boys
are subjected to sex trafficking and domestic servitude. In the
past, boys attending Koranic schools run by teachers known as
marabouts were often forced to beg in the streets, but the
Government of The Gambia reports that an increasing number of
marabouts now force children into street vending, where they are
more difficult to identify. Women, girls, and boys from West
African countries − mainly Senegal, Sierra Leone, Liberia, Ghana,
Nigeria, Guinea, Guinea Bissau, and Benin – are recruited for
exploitation in the sex trade in The Gambia, in particular to meet
the demands of European tourists seeking sex with children.
Observers believe organized networks use travel agencies to
promote child sex tourism, though none have been uncovered.
There are reports that Europe-bound smuggling operations
transiting Cape Verde and the Canary Islands using fishing boat
include trafficking victims, but these reports may be based on a
failure to distinguish human trafficking from the separate crime of
migrant smuggling.
The Government of The Gambia does not fully comply with the
minimum standards for the elimination of trafficking; however, it is
making significant efforts to do so. Despite these efforts, the
government did not demonstrate increasing efforts to address
human trafficking over the previous year; therefore, The Gambia
is placed on Tier 2 Watch List. The Gambian government failed to
use its adequate anti-trafficking legal framework to investigate or
prosecute any suspected trafficking cases during the reporting
period. While it began to designate staff to serve on the National
Agency Against Trafficking in Persons, it did not complete efforts
to bring this agency into formal existence, as mandated by a 2007
law. The government claimed to monitor boys in street vending
and unaccompanied girls in resorts known to be destinations of
sex tourists, though it did not identify or provide protective
services to any victims among these populations.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2009
No report available
____________________________________________________
Links:
Worldwide AML Legislation (International Bar Association)
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| Further Tables |
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*Please note that FATF deems that a country has significant aml deficiencies if any
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
| GAMBIA |
| KnowYourCountry |
|
|
| Last Updated: 16 April 2012 |