Flyers guide for EPNFDs on AML/CFT/FP

This directive is taken pursuant to the provisions of Article 62 of Directive No. 001/SAMIFIN/DG/CAB/22 of 14 June 2022 relating to the prevention, detection of money laundering and/or terrorist financing and the reporting of suspicious transactions.

The fight against money laundering, terrorist financing, and proliferation financing (AML/CFT/FP) aims to preserve the stability and integrity of the economic system.

At the international level, the Financial Action Task Force (FATF) defines standards that guide countries in preventing the use of the financial system for illicit purposes.

As a member of ESAAMLG, Madagascar has committed to implementing these standards through the application of the FATF 40 Recommendations.

In accordance with Law No. 2018-043 on AML/CFT, Designated Non-Financial Enterprises (DNEEs) play a crucial role in this framework.

They contribute to the detection and prevention of illicit financial flows through the implementation of due diligence and reporting measures. Risk-based supervision (RBS) is a key component of AML/CFT/CFT. Its objective is to support non-financial corporations (NFCs) in fulfilling their obligations, based on the nature and risk level of their activities. More than just a control mechanism, it fosters continuous improvement, sustainable compliance, and trust among stakeholders in the economic system.