Liberia Country Summary

FATF Status

Liberia 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 Liberia was undertaken in 2023. According to that Evaluation, Liberia was deemed Compliant for 3 and Largely Compliant for 15 of the FATF 40 Recommendations. It was deemed Highly effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

Liberia is grappling with significant challenges related to crime and corruption, which are deeply entrenched in both public and private sectors, undermining the country's democratic and economic progress. The pervasive nature of corruption, coupled with weak enforcement of existing laws and a lack of accountability for public officials, has created an environment where illicit activities, including human trafficking, drug trafficking, and financial crimes, flourish, further complicating the nation's resilience to crime.

Liberia presents a mixed economic landscape with significant opportunities for investment, particularly in natural resources such as mining, agriculture, and forestry, alongside emerging sectors like energy and telecommunications. However, the country faces substantial challenges, including a lack of infrastructure, pervasive corruption, and a legal framework that often hinders foreign investment, leading to a reliance on imports for basic needs. Despite these obstacles, Liberia's economy is showing signs of recovery, with a projected GDP growth of 5.3 percent in 2024, driven by efforts from the newly inaugurated government to improve the investment climate and reduce corruption, although the effectiveness of these measures remains uncertain.