Angola to announce further steps to strengthen financial service industry governance
The Central Bank of Angola, Banco Nacional de Angola (BNA), said Monday that it will announce new measures in the first half of 2016 aimed at strengthening the financial services sector’s ability to combat money laundering and terrorist funding.
Angolan Central Bank Governor Joe Pedro de Morais Junior said the new measures will help Angola reach its goal of complying with the Financial Action Task Force, a global organization set up to stop money laundering and terrorist funding. The governor said the bank will also review compliance status at other institutions, such as the gaming and insurance sectors.
Here are some of the measures Angola took since 2010:
Joining the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG).
Enactment of laws to provide a legal basis for freezing, seizing and confiscation measures for the proceeds of money laundering and terror financing.
Amendment of law to criminalize terrorism financing.
Enactment of regulations and procedural arrangements to implement the obligations set out by United Nations Security Council Resolution (UNSCR).
Establishment of a fully operational and effectively functioning Financial Intelligence Unit.
Protection of the Financial Intelligence Unit’s operational independence and autonomy.
Improving Customer Due Diligence (CDD) measures.
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