This document contains a mutual evaluation report of Zambia's anti-money laundering and counter-terrorist financing measures. It finds that Zambia has a moderate level of effectiveness in 11 of 12 immediate outcomes but is low for preventing legal persons and arrangements from being misused. Technically, Zambia is partially compliant or largely compliant for most recommendations, except for targeted financial sanctions related to proliferation where it is non-compliant. The report provides ratings for both effectiveness and technical compliance of Zambia's anti-money laundering systems.