Cape Verde (Cabo Verde)

New Documents

Political Dialogue Meeting Between Cape Verde, EU Highlights Areas of Cooperation

During the seventh political dialogue meeting held at ministerial level between Cape Verde and the European Union in Luxembourg on Oct. 13, 2015 representatives for both countries discussed security and stability in Cape Verde and highlighted money laundering as a priority area for cooperation.

October 14, 2015

GIABA to Host AML Workshop in Cape Verde

The Inter-Governmental Action Group against Money Laundering in West Africa will hold a three-day workshop in Cape Verde to assist the jurisdiction with the development of its national anti-money laundering and counterterrorist financing strategy.

November 21, 2013

Interpol, Cape Verde to Strengthen Law Enforcement Cooperation

September 13, 2013

GIABA Discusses Effect of Narcotics Trafficking on Money Laundering in Cape Verde

September 1, 2013

GIABA Releases Report on Cape Verde’s Progress in Implementing FATF Recommendations

May 5, 2011

News

Midweek Roundup: German Bank Fined Over Angolan Deal, Pilatus Bank Helped Politicos Funnel Suspicious Funds, and More

Credit Suisse to close Chinese dissident artist’s account, Taliban appoints U.S., U.N.-blacklisted leaders, and more, in the midweek roundup.

September 8, 2021

Midweek Roundup: Deutsche Bank Probes Trump Private Banker, Investigation Ties Wirecard to ‘Ndrangheta, and More

Wirecard business associate found dead in the Philippines, Dutch authorities question ABN Amro’s board of directors over AML lapses, and more, in the midweek roundup.

August 5, 2020

Midweek Roundup: Epstein’s Deutsche Bankers Named, New Jersey Orders Unity Bancorp To Bolster AML Controls, and More

July 15, 2020

Midweek Roundup: Former ICBC Staff in Spain Settles Money Laundering Charges, Swiss Investigate UBS, and More

June 17, 2020

Enforcement Actions

0 Items Found

Key Documents

Cape Verde Criminalizes Money Laundering

December 16, 2002

Cape Verde Enacts Money Laundering Prevention Law

December 22, 2001

Important Facts

The U.S. State Department lists Cape Verde as a major money laundering jurisdiction. Much of its economy is in the informal sector, creating a lack of transparency and contributing to money laundering vulnerabilities. The biggest money laundering risk in country is from narcotics trafficking, largely due to its location at the Atlantic crossroads, along major trade routes. It also has a limited capacity to patrol its large maritime borders. Public corruption is generally limited and is unlikely to contribute to money laundering in Cape Verde. Counterfeiting and intellectual property theft remain prominent issues and prosecutors seldom pursue criminal charges. Gaps remain in the implementation and enforcement of the financial crime laws.

Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical	Effectiveness
Compliant : 9	High : 0
Largely Compliant : 15	Substantial : 0
Partially Compliant : 16	Moderate : 0
Non-Compliant : 0	Low : 11

BASEL i

Rank : 92/110

Score : 6.49/10

TRANSPARENCY INTERNATIONAL i

Rank : 41/179

Score : 58/100

Tax Justice Network i

Rank : 38/176

Score : 59/100