Gabon -- AML/CFT Compliance Regulatory Overview

Gabon, as a member of the Economic and Monetary Community of Central Africa (CEMAC), adheres to regional AML/CFT frameworks, which are largely aligned with the recommendations of the Financial Action Task Force (FATF). While specific, standalone legislation solely dedicated to cryptocurrency/virtual asset service providers (VASPs) is still developing in many African nations, VASPs are generally expected to comply with existing broader AML/CFT laws.

Here's a breakdown of the AML/KYC requirements for cryptocurrency/virtual asset service providers in Gabon:

AML/CFT Legislation

The primary AML/CFT framework applicable in Gabon, including for entities dealing with virtual assets, stems from CEMAC regulations:

• CEMAC Regulation No. 01/16-CEMAC-UMAC-CM on the Prevention and Repression of Money Laundering and Terrorist Financing (2016): This is the cornerstone legislation for AML/CFT in the CEMAC zone, which Gabon has adopted. It sets out the general obligations for all financial institutions and designated non-financial businesses and professions (DNFBPs), including those that might offer virtual asset services, to prevent and combat money laundering and terrorist financing.
  • Note: While this regulation predates FATF's specific guidance on virtual assets (Recommendation 15 and its Interpretative Note from 2018), its broad scope often means VASPs are expected to comply as "financial institutions" or similar entities if they perform functions akin to traditional financial services.
  • Source (French): You can often find the official text of CEMAC regulations on the BEAC or CEMAC institutional websites, or via regional legal databases. A direct official link might require navigating the French-language sites. An example of where such texts are often found is on the BEAC website, though specific direct PDF links can change.
    • General search term for official document: "Règlement n°01/16-CEMAC-UMAC-CM relatif à la prévention et à la répression du blanchiment de capitaux et du financement du terrorisme"

Customer Due Diligence (CDD) Requirements

Based on the CEMAC Regulation and FATF standards, VASPs are expected to implement robust CDD measures:

1. Identification and Verification:
   • Individuals: Obtain and verify identity using reliable, independent source documents (e.g., national ID cards, passports, driver's licenses) for name, date of birth, place of birth, address, and nationality.
   • Legal Entities (Companies): Obtain and verify information such as the company's name, legal form, address of registered office, names of directors, and provisions governing the power to bind the company. Identify and verify the identity of the beneficial owners (individuals who ultimately own or control the company) and persons acting on behalf of the company.
2. Purpose and Nature of the Business Relationship: Understand the purpose and intended nature of the business relationship or the specific transaction.
3. Ongoing Monitoring:
   • Conduct ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions are consistent with the VASP's knowledge of the customer, their business, and risk profile.
   • Keep customer identification data up-to-date.
4. Enhanced Due Diligence (EDD): Apply EDD in situations identified as higher risk, including:
   • Relationships with Politically Exposed Persons (PEPs).
   • Transactions involving high-risk jurisdictions.
   • Complex, unusually large transactions, or unusual patterns of transactions that have no apparent economic or visible lawful purpose.
   • For virtual assets, this could involve deeper scrutiny of the source of funds/wealth, understanding the origin and destination of virtual assets, and the underlying purpose of transactions.

Suspicious Transaction Reporting (STR)

VASPs, like other financial institutions, are obligated to report suspicious transactions:

• Obligation to Report: Any VASP that suspects or has reasonable grounds to suspect that funds (fiat or virtual assets) are the proceeds of a criminal activity, or are related to terrorist financing, must report its suspicions.
• Recipient: Reports must be made promptly to Gabon's Financial Intelligence Unit (FIU).
• No Tipping-Off: VASPs and their employees are prohibited from disclosing to the customer or to third parties that an STR has been filed.

Record-Keeping Obligations

VASPs are required to maintain specific records for a defined period:

• Duration: Records must typically be retained for at least five (5) years after the business relationship has ended or after the date of the occasional transaction.
• What to Keep:
  • Copies of documents used for identification and verification of customers and beneficial owners.
  • Account files and business correspondence.
  • Records of transactions, including the amount, currency (fiat and/or virtual asset type and quantity), date, and the identity of the parties involved.
  • Records of suspicious transaction reports filed.
• Purpose: These records must be sufficient to permit the reconstruction of individual transactions and provide evidence for prosecution of criminal activity. They must be made available to competent authorities upon request.

Authority Overseeing Compliance

The primary authority responsible for overseeing AML/CFT compliance in Gabon, including for VASPs, is:

• Financial Intelligence Unit (FIU):

  • Name: Agence Nationale d'Investigation Financière (ANIF) - Gabon
  • Role: ANIF is the central national authority responsible for receiving, analyzing, and disseminating suspicious transaction reports (STRs) and other information regarding money laundering and terrorist financing. It collaborates with other national and international law enforcement agencies.
  • URL: http://anif-gabon.ga/

• Central Bank (Regional):

  • Name: Banque des États de l'Afrique Centrale (BEAC)
  • Role: As the central bank for the CEMAC region, BEAC sets monetary policy and often issues regulations and guidance for financial institutions within the zone. While ANIF handles STRs, BEAC could potentially issue specific licensing or prudential guidelines for entities dealing with virtual assets if they are deemed to operate within the financial sector under its purview.
  • URL: https://www.beac.int/

Important Considerations:

• Evolving Landscape: The regulatory landscape for virtual assets is rapidly evolving globally and in Africa. While specific "crypto laws" might not be fully developed, VASPs are expected to interpret and apply existing AML/CFT frameworks to their operations, guided by FATF standards.
• FATF Standards: Gabon, through CEMAC, is committed to implementing FATF Recommendations. FATF Recommendation 15 specifically addresses new technologies and the risks of virtual assets, requiring countries to ensure VASPs are regulated for AML/CFT purposes, licensed or registered, and subject to effective systems for monitoring compliance. This includes the "Travel Rule" for VASPs.
• Professional Advice: Given the complexity and evolving nature of these regulations, any VASP operating or planning to operate in Gabon should seek specific legal and compliance advice from professionals with expertise in Gabonese and CEMAC AML/CFT laws and virtual asset regulations.