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 widespread corruption and weak governance, with significant challenges in implementing anti-corruption measures despite recent legislative efforts. The criminal landscape is heavily influenced by high-level officials who engage in various illegal activities, including embezzlement and human trafficking, while civil society organizations face repression that hinders their ability to advocate for transparency and accountability.

Equatorial Guinea's economy and investment climate are characterized by significant challenges, including a lack of clear regulations, inadequate infrastructure, and insufficient follow-through on promises for economic diversification and transparency. The government has made some attempts to improve the environment for foreign direct investment (FDI), such as reducing corporate taxes and removing local partnership requirements for non-oil sectors, but these efforts have not translated into meaningful changes or increased investor confidence. Additionally, the banking sector is burdened by high levels of nonperforming loans and low liquidity, while the reliance on oil and gas revenues, coupled with fluctuating global prices, has led to economic instability and a decline in public spending on essential infrastructure.