Congo (Brazzaville) Country Summary

FATF Status

The Republic of the Congo is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Congo was undertaken in 2022. According to that Evaluation, Congo was deemed Compliant for 2 and Largely Compliant for 12 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Congo (Brazzaville) faces significant challenges related to crime and corruption, with systemic issues undermining governance and economic stability. The prevalence of human trafficking, wildlife poaching, and drug trafficking is exacerbated by the involvement of state officials and security forces, while anti-corruption measures are inconsistently enforced and lack comprehensive national strategies, leaving civil society and investigative efforts vulnerable to intimidation and censorship.

The Republic of Congo (Brazzaville) has significant economic potential, primarily driven by its oil sector, which accounts for over 60% of government revenue, yet has faced ongoing economic challenges since the 2014 decline in oil prices. Despite a projected GDP growth of 3.7% in 2019, the country grapples with high poverty rates, limited economic diversification, and a lack of infrastructure, which hinder foreign direct investment and overall economic stability. While the government has expressed intentions to diversify the economy and improve the investment climate, issues such as corruption, poor governance, and a weak regulatory framework continue to deter potential investors and complicate business operations.