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Angola Meets International AML/CFT Standards, Say Financial Action Task Force

Luanda - In a significant step towards transparency and financial stability, Angola has been found to be in compliance with international Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) requirements.

Compliance Assessment by the Financial Action Task Force (FATF)

The assessment was carried out by the FATF, an intergovernmental body that sets global standards for combating money laundering and terrorist financing. The report highlights Angola’s AML/CFT regime as meeting the 2012 FATF Recommendations, considered the gold standard in this field.

Key Areas of Progress

• Strengthening its legal framework
• Enhancing cooperation between financial institutions and law enforcement agencies

The assessment was based on information provided by Angolan authorities as well as data gathered during an on-site visit to the country by FATF experts.

Endorsement by the Financial Action Task Force (FATF)

The findings of the assessment have been reviewed and endorsed by the FATF, making Angola one of a select group of countries that have successfully implemented AML/CFT measures in line with international best practices.

Priority Actions for Further Improvement

• The report identifies priority actions for Angola to further improve its AML/CFT regime
• These will be closely monitored by the FATF in the coming months

Overall, this development is a significant step towards enhancing financial stability and transparency in Angola.