Anti-Money Laundering Regulations in Angola

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Transaction Reporting Requirements

Sections 3.6, 3.7, 3.8

Subject entities in Angola are required to report suspicious transactions to the UIF (Unidade de Intervenção Financeira) regardless of the transaction amount.

How to Report Suspicious Transactions

• Reports can be made in hard copy or via email to comunicacoes@uif.ao.
• The report must be accompanied by a copy of all documents collected or records made.

Customer Identification and Due Diligence Requirements

Section 3.9

Subject entities are required to verify the identity of:

Types of Customers Requiring Enhanced Due Diligence

• Clients with a high-risk profile
• Distance operations
• Operations involving politically exposed people
• Banking correspondence with banking institutions located abroad

Prohibition on Financial Institution Accounts for Foreign Shell Banks

Section 3.10

Banks and payment service providers in Angola are prohibited from establishing correspondent relationships with shell banks.

Additional Requirements

• They must also avoid engaging in correspondent relationships with financial institutions that allow their accounts to be used by a shell bank.

Criteria for Reporting Suspicious Activity

Section 3.11

Subject entities must report all committed, attempted or ongoing activities they know or reasonably suspect are connected with:

Types of Activities Requiring Reporting

• Money laundering
• Terrorism financing
• Proliferation of weapons of mass destruction
• Other criminal offences

Mechanisms for Information Sharing

Section 3.12

Subject entities are obligated to promptly provide information requested by:

Authorities Receiving Information

• UIF (Unidade de Intervenção Financeira)
• Supervisory authorities
• Judicial authorities

Beneficial Ownership and Control Information

Section 3.13

There is no Central Beneficiary Register in Angola.

Responsibility for Maintaining Information

• No information is available on who is responsible for maintaining the information or making it available to government authorities and financial institutions.

Requirements for Payment Orders and Instructions

Section 3.14

Accurate information about originators and beneficiaries must be included in:

Types of Documents Requiring Accurate Information

• Payment orders for funds transfers
• Payment instructions to other financial institutions