Luanda: The Minister of State for Economic Coordination, Jose de Lima Massano, instructed the Financial Information Unit (UIF) on Friday in Luanda to accelerate the implementation of the recommendations of the Financial Action Task Force (FATF) on money laundering prevention in the country. Angola is on the FATF's enhanced monitoring list, resulting from a visit by inspectors from this organization to Angola in 2021, at which 87 deficiencies related to the system for preventing and combating money laundering were identified.
According to Angola Press News Agency, Jos© de Lima Massano stated that the goal is to get off the reinforced monitoring list by 2027. He acknowledged that many actions have already been taken in this regard, and that the adaptation of working instruments is currently underway to the full compliance with the guidelines and the adoption of best practices in terms of regulatory action, monitoring, supervision, and sanctioning.
"This is a critical action at this stage because we intend, as soon as possible, to get out of this reinforced monitoring framework to which we are subject," the minister said. Jos© de Lima Massano requested the support of professional associations, especially those of Lawyers, Accountants, and Accounting Experts, as well as Non-Governmental Organizations (NGOs), having assured the Executive's mobilization to provide all the necessary support.
After being sworn in as director-general of the UIF, Fausta Raul Muzumbi promised to continue the efforts undertaken by the agency's previous leadership, especially those aimed at strengthening its task force. She said the country has everything it needs to get off the grey list, given the effort that has been undertaken by the government and reaffirmed the Unit's commitment to improving the national financial system, in collaboration with trade associations and NGOs, the latter because they constitute entities with a higher risk of financing terrorism.
Muzumbi said that internal coordination in the fight against terrorism is necessary, noting that the global community views this matter as an important factor for Angola to effectively become a more transparent and secure country. Although there are factors that place the country in a situation of medium-risk vulnerability, she said that Angola is not a high-risk jurisdiction.
