Botswana is increasingly exposed to money laundering and terrorist financing risks linked to virtual assets with authorities yet to properly assess the threat posed by the rapidly growing sector, according to a new report by the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG).
In its latest report titled “Anti-money laundering and counter-terrorist financing measures Botswana: 12th Enhanced Follow-Up Report & 5th Technical Compliance Re-Rating,” the regional watchdog warned that Botswana has failed to conduct a comprehensive national assessment of risks arising from virtual assets and emerging financial technologies.
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