Banks urged to take measures to curb fraud

Luanda,               Luanda – Public and private banks must take extra measures with regard to customers and operations that for their nature and characteristics can reveal greater risks of financial fraud, such as money laundering and financing of terrorism.The advice comes from the national director of inspection and investigation of economic activities, DNIIAE, José Alexandre Canelas, who was speaking on Monday at a lecture on the theme “Economic Criminality in Angola and the Role of the Economic Police”.He said banks must collaborate with the National Reserve Bank (BNA) and DNIIAE when asked to providie information on some operations carried out by the customers or present any document for a better control of infringements.He mentioned the sensible points for money laundering and financing of terrorism, the entry of cash in the financial system, transactions within and out of the financial system and the influx of money from different countries.The DNIIEA official said that the banking entities have the obligation of demanding the identification of their customers, through the presentation of valid documents, whenever the operations are superior to 15.000 dollars.