(13)Namibia made a high-level political commitment in February 2024 to work with the FATF and the ESAAMLG, which is its FSRB, to strengthen the effectiveness of its AML/CFT regime. Since then, Namibia has taken steps towards improving its AML/CFT regime, including by strengthening FIU resources dedicated to both its supervision responsibilities and operational and strategic analysis, and increasing the financial and human resources of law enforcement agencies (LEAs) dedicated to TF. Namibia will continue to work on the implementation of its FATF action plan to address strategic deficiencies, including by: strengthening its AML/CFT risk based supervision through conducting offsite and onsite inspections informed by supervisory risk assessment tools and applying effective, proportionate and dissuasive sanctions for breaches of AML/CFT obligations; enhancing preventive measures through inspections and outreach to ensure that FIs and DNFBPs apply enhanced due diligence measures as well as TFS obligations related to TF and PF without delay; increasing the filing of beneficial ownership information of legal persons and arrangements, and applying remedial actions or effective, proportionate and dissuasive sanctions against breaches of compliance with beneficial ownership obligations; improving the cooperation between the FIU and LEAs to enhance the use and integration of financial intelligence in investigations; enhancing the operational capabilities of authorities involved in ML investigations and prosecutions by providing those authorities with adequate resources and targeted trainings; and demonstrating the LEAs’ capabilities to effectively investigate and prosecute ML/TF cases. While recognising and welcoming the commitment and progress made by Namibia so far, and encouraging further efforts, the Commission concludes that Namibia has not yet fully addressed the concerns that led to its addition to the FATF’s list of ‘Jurisdictions under Increased Monitoring’. Namibia should therefore be considered a high-risk third country.