Cameroon Country Summary

FATF Status

Cameroon is on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Cameroon was undertaken in 2024. According to that Evaluation, Cameroon was deemed Compliant for 6 and Largely Compliant for 20 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.

Cameroon grapples with pervasive corruption and organized crime, significantly undermining governance and economic stability. The country faces challenges from various criminal activities, including human trafficking, arms smuggling, and illegal resource exploitation, exacerbated by weak institutional capacity and ongoing conflicts that hinder effective law enforcement and resilience measures.

Cameroon is experiencing a gradual economic recovery, with the International Monetary Fund (IMF) projecting a real GDP growth of 4.3% in 2024, bolstered by rising oil prices and increased non-oil production. Despite this positive outlook, the economy remains fragile due to high debt levels, governance challenges, and ongoing security threats from both domestic and regional conflicts, which hinder investment potential. The government is actively working to create a conducive environment for foreign direct investment through its National Development Strategy for 2030, which includes expanding investment incentives in key sectors such as agriculture and renewable energy, although bureaucratic obstacles and regulatory inefficiencies continue to pose significant challenges for investors.