On December 13, 2023, the National Assembly adopted draft Law No. 022/2023 of October 4, 2023 amending and supplementing certain provisions of Law No. 2018-043 of February 13, 2019 on the fight against money laundering and the financing of terrorism.

The Malagasy Government presented this bill in order to comply the main FATF (Financial Action Task Force) recommendations . The provisions cover aspects such as redefinition, introduction of new incriminations, strengthening government accountability in the fight against money laundering and terrorist financing, among others.

The memorandum of understanding relating to the transparency of beneficial ownership in the mining sector was established at the Salle Lacroix Amphitheater of the Ministry of Mines and Strategic Resources on December 4, 2023 at 3 p.m.

This is an agreement between EITI-Madagascar and SAMIFIN for exchanges of information and experiences in order to achieve more transparency of beneficial ownership in the mining sector.

In order to strengthen cooperation between stakeholders in the fight against money laundering and the financing of terrorism in the implementation of Madagascar's Compliance Plan with FATF recommendations,

60 participants from local government received a mentor  on :

- Immediate Outcome 7: Money laundering investigations and prosecutions (IO7);

- Immediate Outcome 8: Confiscation of illicit assets (IO8);

- Immediate Outcome 9: Terrorist financing investigations and prosecutions (IO9).

This guidance paper should be read in conjunction with: 

• the FATF Recommendations, especially Recommendation 8 and its Interpretive Note, and Recommendation 1 and its Interpretive Note, 
• the FATF typologies report on the Risk of Terrorist Abuse in Non-Profit Organisations, and 
• the FATF Terrorist Financing Risk Assessment Guidance.

Other relevant FATF documents include:

1. This report on Asset Recovery Inter-Agency Networks (ARINs) is specifically designed for policymakers and law enforcement agencies across the globe. ARINs help law enforcement agencies (LEAs) across different countries work together to track money gained from crimes like money laundering and other related offenses. This report is aimed at provides a broad review of ARINs. It covers their global impact, roles, management, challenges, and cooperation with other international groups.