Financial Crime World

Title: Uganda’s Financial Crimes Watchdogs: National Risk Assessments Uncover Money Laundering and Terrorism Financing Threats

Fortifying Uganda’s Financial Systems Against Money Laundering and Terrorist Financing

In a proactive move to strengthen Uganda’s financial systems against the scourge of money laundering (ML) and terrorist financing (TF), the Financial Intelligence Authority (FIA) has released the findings of its latest National Risk Assessments (NRA). These reports aim to identify, evaluate, and comprehend the intricacies of these illicit financial activities in the East African nation.

National Risk Assessment 2023: Money Laundering and Terrorist Financing

  • Second Nationwide Risk Assessment (NRA) Complying with FATF Recommendation 1 and bolstering Uganda’s anti-financial crime framework.

  • Coverage Examining ML and TF risks from 2017 to 2020 and up to end-December 2021.

Non-Profit Organizations: A New Frontier in Terrorism Financing

  • First Terrorism Financing Risk Assessment (TFRA) for Non-Profit Organizations (NPOs) Fulfilling FATF Recommendation 8 and Immediate Outcome 10.

Terrorism Financing Risks in the NPO Sector

  • Mission Equipping Ugandan authorities with a comprehensive understanding of terrorism financing risks from the NPO sector.

  • Identification and Mitigation Implementing measures to protect vulnerable NPOs, upholding a risk-based approach.

Upcoming Updates

Stay tuned for more updates as the FIA continues its crusade against financial crimes.