Financial Crime World

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Update to Anti-Money Laundering Guidelines in the Democratic Republic of Congo

In a move aimed at strengthening efforts to combat money laundering and terrorist financing, the Democratic Republic of Congo’s anti-money laundering guidelines have been updated. The changes come as part of a broader effort to enhance financial transparency and prevent illegal activities.

Improving Effectiveness of Sanctions Regime

According to officials, the updates are designed to improve the effectiveness of the country’s sanctions regime, which is aimed at targeting individuals and entities involved in:

  • Serious human rights violations
  • International humanitarian law violations
  • Obstruction of democracy, the rule of law, and good governance

Correction to UK Sanctions List

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The Foreign, Commonwealth and Development Office has issued a correction to the UK Sanctions List, which provides details on those designated under sanctions legislation. The list now includes Willy Ngoma, a military spokesperson for M23, who has been added due to his involvement in planning, promoting, and supporting the armed group’s activities.

What You Must Do

Financial institutions and other individuals are required to:

  • Freeze any accounts or funds belonging to designated individuals
  • Report their findings to the Financial Intelligence Unit (FIU)
  • Failure to comply with financial sanctions legislation is a criminal offense

Further Information

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The Consolidated List has been updated to reflect the changes, which can be accessed through the Foreign, Commonwealth and Development Office website. For more information on the UN measures in respect of Democratic Republic of Congo, visit the relevant UN Sanctions Committee webpage. The Isle of Man Government’s Customs and Excise pages also provide details on the country’s sanctions regime and links to other financial sanctions regimes.

Issued By

The Foreign, Commonwealth and Development Office has issued this update to ensure that all stakeholders are aware of the changes to the anti-money laundering guidelines in the Democratic Republic of Congo.