During the 21st Council of African Ministers of the Anti-Money Laundering Group in Eastern and Southern Africa (GABAOA or ESAAMLG), Madagascar received a positive note with regard to the fight against money laundering.

The Anti-Money Laundering Group in Eastern and Southern Africa has noted the progress made by Madagascar in the fight against money laundering. However, efforts remain to be made since the same Board considers this progress "insufficient to respond to the shortcomings observed in the Mutual Evaluation Report (MER) adopted in 2018, and this, in relation to the 40 recommendations of the Financial Action Task Force (FATF ) in the fight against money laundering and the financing of terrorism (LBCFT)”. The country plans to finalize and distribute the “National Risk Assessment” and “National Strategy to Combat Money Laundering and Terrorist Financing (AML/CFT)” documents. Development of an action plan outlining activities to address identified technical compliance gaps by September 2022 is also planned. The ESAALMG aims to facilitate the implementation of the 40 FATF recommendations at the regional level by harmonizing practices, sharing experiences and building the capacities of member countries in the area of AML/CFT.