Financial Crime World

Sudan’s Efforts on Combating Financial Crimes: A Report on Anti-Money Laundering and Countering the Financing of Terrorism

Sudan has made significant strides in combating financial crimes, particularly since the early 1990s. In response to international developments, Sudan has implemented a range of measures to strengthen its legal and institutional frameworks, as well as coordinate with the international community.

Sudan has criminalized money laundering under the “Anti-Money Laundering and Combating the Financing of Terrorism Law”. A number of laws have been issued in this regard, including:

  • The Criminal Act of 1991
  • Sudan’s Counter Terrorism Act of 2001
  • The Money Laundering and Finance of Terrorism (Combating) Act 2014
  • The Human Trafficking Act 2014

Institutional Framework

Sudan has established a range of bodies to combat financial crimes, including:

National Committee for Anti-Money Laundering and Combating the Financing of Terrorism

  • Responsible for policy-making, domestic coordination, assessing risk, monitoring international and regional developments, and establishing training programs
  • Headed by the Deputy Minister of Justice and comprises representatives from major stakeholders in the area

Technical Committee for Implementation of Security Council Resolutions (TCISCR)

  • Established to implement UNSCR resolutions related to terrorist financing
  • Responsible for overseeing the implementation of these resolutions and ensuring that Sudan complies with international obligations

Regional and International Cooperation

Sudan has joined the Middle East and North Africa Financial Action Task Force (MENAFATF) and has undergone several assessments by the group. In 2015, MENAFATF recognized Sudan’s significant progress in addressing strategic anti-money laundering/combating the financing of terrorism deficiencies, and removed the country from its gray list.

Sudan has also received technical assistance from the International Monetary Fund (IMF) to strengthen its legal, regulatory, institutional, and financial supervisory frameworks for anti-money laundering/combating the financing of terrorism. The IMF’s assistance has contributed to the preparation of Sudan’s AML/CFT Act 2014 and has helped the Central Bank of Sudan in issuing circulars on regulating and supervising banks and financial institutions.

Conclusion

Sudan’s efforts to combat financial crimes are a key component of its broader anti-terrorism strategy. The country’s progress in addressing strategic deficiencies has been recognized by international bodies, and it continues to work towards strengthening its legal and institutional frameworks.