Governor warns Eswatini must prove AML measures work

MBABANE – Eswatini’s financial sector stakeholders have been urged to demonstrate that the country’s anti-money laundering measures are effective as the country prepares for its next Financial Action Task Force (FATF) Mutual Evaluation.

Central Bank of Eswatini Governor Phil Mnisi said the upcoming assessment would look beyond the adequacy of the country’s laws and regulations to determine whether measures to combat money laundering, terrorist financing and proliferation financing were actually working.

Mnisi was speaking yesterday at the opening of the FATF Standards Training Programme, hosted by the Central Bank of Eswatini from September 14 to 18, 2026.

“This training comes at a critical time as Eswatini continues to strengthen its AML/CFT/PF regime and prepare for the upcoming Mutual Evaluation,” Mnisi said.

He said the Mutual Evaluation would assess not only the adequacy of Eswatini’s legal and regulatory framework, but also the effectiveness of the collective efforts to combat financial crime.

The governor said this made it important for all stakeholders to have a sound understanding of the FATF Standards and how they should be applied in practice.

He said knowledge gained from the training should help strengthen compliance, improve institutional controls and enhance the overall effectiveness of the country’s anti-money laundering, counter-financing of terrorism and proliferation financing framework.

Mnisi stressed that preparing for the Mutual Evaluation could not be left to one institution, saying it required a coordinated national approach.

“As we prepare for the Mutual Evaluation, it is important to remember that success will require a coordinated, national approach,” he said.

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