Financial Intelligence Unit
Eritrea's financial intelligence function, operating under the Bank of Eritrea. It receives and analyses suspicious transaction reports.
Africa · Country coverage
AML/CTF Compliance in Eritrea
Eritrea regulates AML/CTF through its central bank framework under the Anti-Money Laundering and Combating of Financing of Terrorism Proclamation. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Eritrea
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUFinancial Intelligence Unit, Bank of Eritrea
FATF statusESAAMLG member
Primary legislationAnti-Money Laundering and Combating of Financing of Terrorism Proclamation (No. 175/2014)
Overview
AML/CTF compliance in Eritrea.
Eritrea regulates money laundering and terrorist financing through its AML/CFT Proclamation No. 175/2014, with the financial intelligence function operating under the Bank of Eritrea.
Regulated entities must apply customer due diligence, identify beneficial owners, monitor relationships, and report suspicious activity to the FIU. UN and EU sanctions on Eritrea were lifted in 2018, but narrower, targeted US sanctions naming specific Eritrean military, party, and government figures remain in force, so firms should screen against applicable sanctions lists as part of standard due diligence.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
AML/CFT Proclamation No. 175/2014
Eritrea's principal AML statute, setting customer due diligence, recordkeeping, and reporting obligations for financial institutions and other obligated entities.
Sanctions exposure
UN and EU sanctions on Eritrea were lifted in 2018. Firms should still account for narrower, targeted US sanctions naming specific Eritrean military, party, and government figures alongside standard AML due diligence.
ESAAMLG membership
Eritrea is a member of the Eastern and Southern Africa Anti-Money Laundering Group, a FATF-style regional body, and aligns its regime with the FATF 40 Recommendations through that membership.
Obligations
What regulated businesses must do.
- Apply customer due diligence and identity verification
- Identify beneficial owners of corporate customers
- Report suspicious transactions to the FIU
- Screen against applicable sanctions lists, including targeted US designations
- Conduct ongoing monitoring of customer relationships
- Maintain records and provide staff training
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in Eritrea?
Eritrea's financial intelligence function operates under the Bank of Eritrea, which also supervises banks and other licensed financial institutions for AML/CTF compliance.
What is the main AML law in Eritrea?
The Anti-Money Laundering and Combating of Financing of Terrorism Proclamation (No. 175/2014) sets the customer due diligence, recordkeeping, and reporting obligations for regulated entities.
Is Eritrea a member of FATF?
Eritrea is a member of ESAAMLG, the FATF-style regional body for Eastern and Southern Africa, and aligns its AML/CTF regime with the FATF 40 Recommendations through that membership. It is not on the FATF grey or black list. Firms should still account for narrower, targeted US sanctions naming specific Eritrean officials and entities.
How does MemberCheck support AML compliance in Eritrea?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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