Financial Crime World

Money Laundering Investigation Launched at Rwanda’s Financial Intelligence Centre

Kigali, Rwanda

In an effort to strengthen its fight against financial crimes, Rwanda’s Financial Intelligence Centre (FIC) has initiated a money laundering investigation. This announcement was made in a statement released on Tuesday, January 3, 2023.

Background

The Financial Intelligence Centre, established in December 2020, is a specialized organization under the supervision of the Ministry in charge of finance. Its mandate includes conducting financial intelligence to prevent and counter:

  • Money laundering
  • Financing of terrorism
  • Financing of proliferation of weapons of mass destruction and related crimes

Working in collaboration with security, judicial, and administrative organs at national, regional, and international levels, the FIC plays a crucial role in sharing information relevant to the fight against these crimes.

Ongoing Investigation

Details about the ongoing investigation remain scarce. The statement issued by the FIC emphasizes the importance of effective cooperation between institutions to counter financial crime. The Centre’s role in protecting financial systems by countering illicit activities is essential for maintaining the integrity of Rwanda’s economy.

Key Points:

  • Rwanda’s Financial Intelligence Centre (FIC) has launched a money laundering investigation.
  • The investigation is carried out under the Law No 74/2019 and Law No 045/2021.
  • The FIC collaborates with national, regional, and international organizations to counter financial crimes.
  • Effective cooperation between institutions is critical in countering financial crime.

Significant Strides in Combating Financial Crimes

Rwanda has made significant progress in combating financial crimes, with the Financial Intelligence Centre being a notable addition to its efforts. Money laundering, financing of terrorism, and financing of proliferation of weapons of mass destruction are global concerns that require collective efforts from all stakeholders to mitigate.

FIC’s Mission

The FIC has a vision of being a Centre of Excellence in protecting financial systems. Its mission includes:

  1. Promoting financial transparency and integrity
  2. Enhancing AML/CFT regulatory compliance
  3. Providing timely, accurate, and relevant financial intelligence

Protecting Rwanda’s Financial System

The FIC, which was established with the mandate to protect Rwanda’s financial system, plays a pivotal role in safeguarding national security and economic stability. Its work is crucial in ensuring that illicit financial flows do not undermine the country’s efforts to promote sustainable economic growth and development.

AML/CFT Regulatory Compliance

The FIC’s efforts are aligned with Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulatory compliance, which is a critical component of maintaining financial system integrity. The Centre’s investigation underway emphasizes its commitment to carrying out its mandate and upholding the integrity of Rwanda’s financial system.

Contact Information

For more information about FIC, including contact details, please visit the Centre’s website.