Financial Crime World

Sudan’s Anti-Money Laundering and Counter-Terrorist Financing Legislation: A Closer Look

Sudan’s legal framework against money laundering and terrorist financing has been in place since the enactment of the Anti-Money Laundering and Combatting of Terrorism Financing (AML CTF) Act in 2014. In this article, we delve into the specifics of this legislation.

Does Sudan Have Legislation Against Money Laundering and Terrorist Financing?

Yes, Sudan’s AML CTF Act, enacted on June 18, 2014, makes it a criminal offense to engage in money laundering and terrorist financing.

Money Laundering

  • Classified as an offense under section 35(1)
  • Involves money or proceeds from criminal activity
  • No conviction for the underlying criminal offense required

Terrorist Financing

  • Classified as a crime under section 36(1)
  • Involves intentionally providing money to fund terrorist activities or organizations

To Whom Does the Legislation Apply?

The AML CTF Act applies to:

  • Natural and legal persons
  • Various sectors including banking, finance, insurance, capital markets, real estate, minerals, and legal professions

What Does the Legislation Prohibit?

The AML CTF Act prohibits:

  • Money laundering: Knowingly or reasonably believing money is proceeds of crime and intentionally transporting, concealing, hiding, or laundering it
  • Terrorist financing: Intentionally providing money with the knowledge or intention that it will be used to fund terrorist activities or organizations

Penalties for Infringing the Legislation

Violations of the AML CTF Act are punishable by:

  • Natural persons: Imprisonment between five to ten years and a fine equal to twice the amount of the illegal money or proceeds
  • Corporate entities: Fines up to SDG 500,000-5,000,000

Additional Regulations and Obligations

The AML CTF Act requires financial institutions to adopt protective rules and procedures, such as:

  • Know Your Customer (KYC) protocols
  • Maintaining money transfer documents

Penalties for Failing to Comply

Businesses and their board members face fines and potential imprisonment under the AML CTF Act for failing to comply with their obligations.

Relevant Enforcement Authorities

The Undersecretary of the Ministry of Justice serves as the primary enforcement agent, acting as the ex-officio president of the AML CTF National Committee.

Contact Information

  • Address: Justice Tower, Gamhuria Avenue, PO Box 302, Postal Code 11111
  • Phone: +249 183 764 168
  • Email: moj@mojj.gov.sd