Equatorial Guinea Country Summary

FATF Status

Equatorial Guinea 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 Equatorial Guinea was undertaken in 2024. According to that Evaluation, Equatorial Guinea was deemed Compliant for 5 and Largely Compliant for 9 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness ratings.

Equatorial Guinea is characterized by pervasive corruption and weak governance, with significant challenges in effectively implementing anti-corruption laws. The ruling elite's control over resources and the repression of civil society hinder accountability and transparency, while foreign criminal actors contribute to issues such as human trafficking and arms trafficking, further complicating the country's resilience to crime.

Equatorial Guinea's economy is heavily reliant on the oil and gas sector, which has historically attracted foreign direct investment (FDI) but is currently facing challenges due to fluctuating global oil prices and declining production. The investment climate is hindered by a lack of clear regulations, inadequate infrastructure, and insufficient follow-through on commitments to diversify the economy and enhance transparency. Although the government has made some marginal improvements, such as reducing corporate tax rates and operationalizing a single window for business registration, significant barriers remain for foreign investors, including bureaucratic complexities and a lack of judicial independence, which contribute to an environment of legal insecurity and arbitrary enforcement of laws.