EU Global Facility Boosts Angola’s Anti-Money Laundering Efforts with Beneficial Ownership Toolkit

The EU Global Facility made its mark in Angola this week, engaging in the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) conference in Lubango. During the event, the EU GF’s Key Expert on Beneficial Ownership, Alexandre Taymans, presented the EU GF’s Beneficial Ownership Toolkit as an essential solution for ESAAMLG jurisdictions to assess the risk of legal entities and arrangements.

The BO Toolkit: A Critical Response to FATF Recommendations

• Revolutionary toolkit: Designed for ESAAMLG jurisdictions
• Invaluable for FATF compliance: Facilitates meeting updated Financial Action Task Force (FATF) Recommendation 24 and 25 standards
• Step-by-step methodology for risk management: Guides users through managing risks associated with legal entities
• Comprehensive approach: Covers money laundering and terrorist financing risks, customizable calculation methods
• Versatile assessment: Evaluates risks from both domestic and foreign entities

Once adopted by ESAAMLG member states, the EU GF will provide training programs and bilateral assistance for effective usage.

Collaborating for Progress: Bilateral Meetings

During the Lubango conference and beyond, the EU Global Facility held bilateral meetings with Angola, DRC, Madagascar, Malawi, Mozambique, Mauritius, South Africa, and Seychelles. Discussions focused on updating work plans and arranging future collaborations, ensuring a consistent and responsive approach to the countries’ changing needs in the anti-money laundering landscape.

EU Global Facility: Your Partner in AML/CFT Expertise

The EU Global Facility, with contributions from European Commission Expertise France (Igor Diphat) and Fikile, remains dedicated to supporting Africa in its fight against Money Laundering and Terrorist Financing. Stay informed about their work by following their efforts on Twitter.