Tanzania’s Sanctions Regime: A Comprehensive Overview
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Tanzania has implemented a robust sanctions regime to combat money laundering and terrorist financing offenses. This regime is enforced by the Police Force and Auxiliary Services Act, which aims to preserve peace, maintain law and order, prevent and detect crime, and protect property.
The Financial Intelligence Unit (FIU)
The FIU is an extra-ministerial department responsible for dealing with sanctions-related matters. Its primary role is to maintain a list of sanctioned individuals and entities, which may be published by the authority.
Implemented Sanctions
Tanzania has implemented various UN, African Union, Southern African Development Community, and East African Community sanctions, including:
- Arms embargoes
- Financial sanctions
- Travel bans
- Import/export bans
These measures are enforced through orders and regulations issued by the Tanzania Bureau of Standards.
FATF Report
In a rare finding, a report by the Financial Action Task Force (FATF) in 2009 noted that there were no cases of terrorist financing investigated or prosecuted in the country.
Anti-Money Laundering Act
The Anti-Money Laundering Act provides for an individual person or group/association of persons, and corporate body or bodies as targets of sanctions. However, the Ministry of Finance does not have a licensing or authorization system in place. Exemptions may be granted on particular activities, transactions, or types of transactions from the financial sanctions regime to specific entities or individuals.
Consequences of Breaching Financial or Trade Sanctions Law
A breach of financial or trade sanctions law can result in criminal offenses punishable by imprisonment, fine, or both.
Key Regulators
The following are key regulators in Tanzania’s sanctions regime:
- Financial Intelligence Unit (FIU)
- National Multi-disciplinary Committee on Anti-Money Laundering
- Prevention and Combating of Corruption Bureau (PCCB)
- Director of Public Prosecution Office
Contact Us
For more information or advice on Tanzania’s sanctions regime, please contact Abenry & Company, Advocates, a leading law firm in the country.
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