On June 10, 2025, the European Commission issued a press release announcing that Uganda has been removed from the European Union’s list of high-risk countries for financial crimes.
The Financial Action Task Force (FATF), endorsed this decision, recognizing Uganda’s efforts to combat money laundering and terrorism financing.
As a result, Uganda joins countries like Barbados Panama, which were also delisted in this update.
Conversely, nations like Kenya ,Algeria were added to the list as part of a global initiative to strengthen financial security.
However, this achievement is overshadowed by a significant setback earlier this year.
In February 2025, scammers stole $16 million from Uganda in an online scam.
Nine finance ministry officials were arrested including Accountant General Lawrence Semakula.
Although the Bank of Uganda successfully recovered $14.7 million of the misallocated funds, the incident raises concerns about the effectiveness of the country’s financial oversight.
The European Commission’s decision highlights Uganda’s progress in enhancing its financial security measures despite being a developing country.
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