Lesotho

New Documents

The Eastern and Southern Africa Anti-Money Laundering Group published a post evaluation progress report regarding the first round mutual evaluation of Lesotho for the period of August 2016 to July 2017.

HM Revenue and Customs published a convention signed by the United Kingdom and the Kingdom of Lesotho on Nov. 3, 2016 for the purpose of the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains.

News

Enforcement Actions

0 Items Found


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)

Rankings

FATF i

Technical Effectiveness
Compliant : 4 High :
Largely Compliant : 0 Substantial :
Partially Compliant : 17 Moderate :
Non-Compliant : 27 Low :
Not-Applicable : 1

BASEL i

Rank : 24/146
Score : 7.15/10

TRANSPARENCY INTERNATIONAL i

Rank : 85/180
Score : 40/100

Tax Justice Network i

Rank : N/A
Score : N/A