Angola taken off money laundering blacklist

23 February 2016

The National Bank of Angola (BNA) is no subject to the inspection process for money laundering and financing of terrorism (AML/CFT), according to a recent report by the Financial Action Task Force (FATF), the bank said.

The BNA said in a statement that the decision was taken following measures taken by the government, which implemented a wide ranging governance programme and of compliance with internal and external regulations, to ensure that the Angolan financial system is aligned to international and regional requirements.

The Angolan central bank also said a FATF mission had visited Angola in January 2016 to monitor the process of implementation of reforms and actions to improve the areas identified in 2010 and identified key points where the BNA has made significant progress.

These key points include the creation of an appropriate legal framework, introduction of automated surveillance procedures of customers and approval of legislation which provides for international cooperation in criminal matters, including the fight against money laundering and financing of terrorism (AML/CFT). (macauhub/AO)