This is opening up a ‘window’ for criminals to take advantage of the weak system, the report, published yesterday by The Sentry concluded.
The country’s “rampant illicit finance problems” put the financial system at risk as corrupt individuals use the weak law enforcement, inadequate legal framework and the largely cash-based economy to launder money.
The Sentry, which tracks money used for genocide and ‘crimes against humanity’, called on the DR Congo’s government to undertake a risk assessment, strengthen investigations of economic crime and close the gaps within the legal framework.
It also called for DR Congo to request international assistance to help with this, as the current regime lags behind international standards and provides a “window for kleptocrats and terrorists to utilise the DRC’s banking system to profit from corruption”.
Josh White, director of policy and analysis at The Sentry, said the findings underscore the need for the Congolese authorities to take serious action to combat money laundering and terrorist financing…
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