The risk of money laundering and terrorist financing is high in Cameroon. According to the National Financial Investigation Agency (ANIF), between 2006 and 2017, more than 1050 billion FCFA, approximately 1.8 billion dollars were laundered in Cameroon according to figures published during the first National Assessment of Money Laundering (ML) and Terrorist Financing (FT) risks (ENR).
This evaluation, which benefited from the technical support of the World Bank (WB), was carried out in compliance with the recommendations of the Financial Action Task Force (FATF) in the matter as well as the provisions of the regulations of the Economic Community and Monetary of Central Africa (CEMAC) of April 16, 2016 on the prevention and repression of money laundering and the financing of terrorism. According to the report, the amounts in terms of money laundering are higher through embezzlement of public funds and corruption.
The ANIF, which recorded nearly 5,000 denunciations and recorded 700 cases transferred in 2018 to the judicial authorities, informs that this work has made it possible to identify threats, better understand vulnerabilities and assess the risk of money laundering and financing of terrorism to which the country is exposed.
It appears that the level of money laundering risk is higher in the sectors of banking, real estate, exchange offices, dealers in metals and precious stones, notaries, casinos and sellers of construction materials. For their part, money transfer companies, specialized financial institutions, art dealers and non-profit organizations constitute the second level of money laundering risk, while the securities market, the securities sector. insurance companies, accountants and auditors, hire-purchase companies and cash transport companies constitute the third level of risk.
