Congo, the Democratic Republic Country Summary

FATF Status

The Democratic Republic of Congo is on the FATF List of Countries that have been identified as having strategic AML deficiencies

Latest FATF Statement - 21 February 2025

Since October 2022, when the DRC made a high-level political commitment to work with the FATF and GABAC to strengthen the effectiveness of its AML/CFT regime, the DRC has taken steps towards improving its AML/CFT regime, including by establishing a mechanism to promote interagency coordination and cooperation on both ML and TF at the operational level. The DRC should continue to work to implement its FATF action plan to address its strategic deficiencies, including by: (1) developing and implementing a risk-based supervision plan; (2) building the capacity of the FIU to conduct operational and strategic analysis; (3) strengthening the capabilities of authorities involved in the investigation and prosecution of ML and TF; and (4) demonstrating effective implementation of TF and PF-related TFS.

European Commission List of Countries with Strategic Deficiencies in their AML/CFT Regimes

The Democratic Republic of Congo is on the EU Commission list of High Risk jurisdictions which have been identified as having strategic deficiencies in their anti-money laundering and countering the financing of terrorism (AML/CFT) regimes that pose significant threats to the financial system of the European Union (‘high-risk third countries’).

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the Democratic Republic of Congo was undertaken in 2021. According to that Evaluation, he Democratic Republic of Congo was deemed Compliant for 0 and Largely Compliant for 4 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

The Democratic Republic of the Congo (DRC) faces significant challenges in combating corruption, despite having laws and an anti-corruption office established by former President Kabila. The effectiveness of these measures is undermined by political motivations and a lack of resources, as evidenced by the DRC's low score on the Corruption Perception Index. Under President Tshisekedi, there have been some efforts to address corruption, including suspensions of officials accused of misconduct, but systemic issues persist, exacerbated by the involvement of state-embedded actors in criminal activities and the prevalence of illicit markets.

The Democratic Republic of the Congo (DRC) is endowed with vast natural resources, including 80 million hectares of arable land and over 1,100 minerals and precious metals, positioning it as potentially one of the richest countries in the world. However, despite a GDP growth of 4.1% in 2018, the DRC faces significant challenges such as inadequate infrastructure, high levels of corruption, and a large portion of its population living on less than two dollars a day, which hinder its economic development.

The investment climate in the Democratic Republic of the Congo (DRC) is challenging due to issues such as inadequate infrastructure, corruption, and a lack of transparency in the legal system. Despite these obstacles, the DRC's vast natural resources and potential for economic growth attract foreign investors, particularly in the mining sector. Recent political changes under President Felix Tshilombo Tshisekedi have raised hopes for improved governance and a more favorable business environment.