Madagascar’s latest follow-up  Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards was undertaken in 2023. According to this follow-up evaluation, Madagascar had made significant overall progress in resolving the technical compliance shortcomings identified in its 2018 Mutual Evaluation Report.

Seven Recommendations were re-rated in this report, and Madagascar was deemed Compliant for 6 and Largely Compliant for 11 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective 0 of the Effectiveness  & Technical Compliance ratings.
Madagascar will remain in enhanced follow-up from the ESAAMLG.