EU removes Uganda from its black list of high-risk jurisdictions
Uganda has been delisted from the European Union's list of high-risk third-country jurisdictions with strategic deficiencies in their Anti-Money Laundering (AML)and Countering Financing of Terrorism (CFT)regimes.
The decision was communicated on June 10, 2025, by the European Commission, stating that the countries removed from the list had made significant progress in addressing the strategic deficiencies identified in their AML/CFT regimes. The EU Commissioner for financial services, Maria Luis Albuquerque, noted in a press statement the importance of the listing system as a tool to protect the EU’s financial system and reinforce compliance with international standards, especially those set by the Financial Action Task Force (FATF).
The commission’s statement confirmed that the delisting aligns with the findings of FATF, which had earlier noted that Uganda had met its action plan targets by February 2024. It added, “These jurisdictions have set up legal and regulatory frameworks to meet commitments in their respective action plans on the strategic deficiencies identified by FATF.”
The EU asserted that it had conducted its review, informed by FATF reports, bilateral dialogue, and country assessments. “We have taken into account the work of FATF and our assessment criteria. Aligning with FATF is vital to uphold the EU’s global standard,” said the statement. The removal from the blacklist enhances the reputation of Uganda’s financial institutions, restoring investor confidence, to facilitate capital inflows and to reinforce Uganda’s credibility in the global financial system, according to economists.
With the EU’s delisting, Uganda is set to regain investor confidence and unlock opportunities for economic growth, international financial partnerships, and streamlined transactions. Experts observe that the new development will improve the ease of doing business in Uganda, allow financial institutions to reduce due diligence burdens on cross-border transactions, and make the country a more attractive destination for foreign direct investments.
Uganda has, over the years, undertaken several legal and regulatory reforms and key legislative amendments, including updates to the Anti-Money Laundering Act, to fortify Uganda’s legal framework against financial crime. Regulatory bodies such as the Financial Intelligence Authority (FIA) and the Bank of Uganda have also stepped up oversight efforts, enforcing stricter reporting standards and boosting their capacity to detect and prevent illicit financial activities.
Uganda has also invested in public awareness campaigns and specialized training for law enforcement, prosecutors, and judicial officials, ensuring effective enforcement and compliance. The government has further demonstrated strong political will, committing additional resources and fostering inter-agency collaboration to combat financial crime.