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Reporting Cash Transactions and Electronic Transfers in Angola

The Republic of Angola has established regulations to prevent money laundering through anti-money laundering (AML) laws. This document outlines the procedures for reporting cash transactions and electronic transfers made by individuals and entities subject to these regulations.

Key Requirements for Reporting

Cash Transactions

Cash transactions exceeding $5,000 (or equivalent) must be reported with the following information:

  • Subject Information: Name of the subject
  • Transaction Details: Date of transaction, account number, entity submitting the operation, description of operation (cash withdrawals and deposits), currency used, amount in currency used, countervalue in national currency (Kwanzas)
  • Required Documents: Report must be submitted with all relevant documents to support the transaction

Transfers to Foreign Accounts

Transfers made to foreign accounts exceeding $5,000 must be reported with similar information as above.

Electronic Transfers by Non-Bank Account Holders

Electronic transfers exceeding $5,000 to foreign countries must be reported with the same information as above.

Reporting Thresholds

The law requires reporting when cash transactions or electronic transfers equal or exceed $5,000 in national currency (Kwanzas) or its equivalent value in other currencies. However, note that for amounts ranging from $5,000 to $15,000, only the initial report is required; subsequent reports are not necessary.

Reception and Confidentiality

  • Single Reference Number (NUR): The Financial Information Unit (FIU) will generate a Single Reference Number (NUR) for each submitted communication map of cash transactions.
  • Confidentiality: During the communication process, confidentiality is maintained by both the FIU and the entity subject to reported data.

Note that this document provides a summary of the key requirements for reporting cash transactions and electronic transfers in Angola. It is essential to consult with relevant authorities or legal experts to ensure compliance with all applicable laws and regulations.