Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Measures in Angola

Domestic Money Laundering Threats

Angola faces significant domestic Money Laundering (ML) threats, which outweigh international sources. The country’s financial system is sophisticated, yet it co-exists with a substantial use of cash and the presence of an informal economy.

Risks and General Situation

• Angola is vulnerable to ML threats from proceeds of crime originating within and outside the country through its financial system.
• The lack of adequate measures to address high-risk scenarios identified in the National Risk Assessment (NRA) report exposes the country to further risks.
• The designation of Non-Profit Organizations (NPOs) as reporting entities is not supported by any risk assessment results.

Financial Intelligence, ML Investigations, Prosecutions, and Confiscation

Financial Intelligence Unit (UIF)

• The UIF has autonomy and operational independence in receiving, requesting, analyzing, evaluating reports, and disseminating financial intelligence to law enforcement agencies.
• However, the UIF’s capacity is limited by the lack of reports from Non-Bank Financial Institutions (NBFIs) and non-commercial banks.

ML Investigations, Prosecutions, and Confiscation

• The lack of reports from NBFIs and non-commercial banks hampers the effectiveness of ML investigations, prosecutions, and confiscation efforts.

Terrorist and Proliferation Financing

Understanding Terrorist Financing Risks

• Some relevant Angolan authorities demonstrate a good understanding of the Terrorist Financing (TF) risks facing the country.

Mitigation and Disruption Measures

• Adequate measures have been put in place to mitigate and disrupt TF risks.