Key Documents

April 10, 2008

February 24, 2014

Important Facts

The U.S. State Department labels Lesotho as a monitored jurisdiction. Lesotho is neither a regional nor an offshore financial center. Money laundering relates primarily to corruption and tax evasion. Although there is no significant black market for smuggled goods in the country, undeclared and under-declared items pass daily between Lesotho and South Africa over the countries' extensive and porous land border. Smugglers commonly bring undeclared consumer goods or occasionally, larger items like automobiles from South Africa into Lesotho. Smaller items are smuggled to avoid paperwork and other official annoyances, while larger items are smuggled to avoid paying import taxes at the borders.
KYC Covered Entities: Banks, money lenders, money exchangers, brokers, insurance companies, securities dealers, real estate agents, gambling houses, casinos, the lottery, precious metals or stones dealers, and service providers
STR Covered Entities: Banks, money lenders, money exchangers, brokers, insurance companies, securities dealers, real estate agents, gambling houses, casinos, the lottery, precious metals or stones dealers, and service providers
Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 0 (2015); Convictions: 0 (2015)

Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rank : 24/146

Score : 7.15/10

Rank : 83/179

Score : 41/100

Rank : N/A

Score : N/A