Financial Crime World

Uganda Committed to Enforcing Financial Sanctions Against Terrorism

The Ministry of Internal Affairs has reaffirmed Uganda’s commitment to countering terrorism, terrorism financing, and proliferation financing through the implementation of targeted financial sanctions. The government has aligned its legal framework with existing risks and assessments related to proliferation financing, with recent amendments including the Anti-Terrorism (Amendment) Act 2022 and the subsequent Anti-Terrorism Regulations 2022.

Implementation of Targeted Financial Sanctions

The Ministry will coordinate the enforcement of targeted financial sanctions through diplomatic measures, requiring a collaborative effort between relevant stakeholders. In line with United Nations Security Council Resolutions, the implementation of targeted financial sanctions is critical in countering proliferation financing.

Guidelines for Compliance

To ensure effective implementation, the Ministry has developed guidelines for organisations and stakeholders on how to comply with targeted financial sanctions. These guidelines will provide a clear understanding of:

  • The legal framework governing targeted financial sanctions
  • The requirements for reporting suspicious transactions
  • The procedures for freezing and confiscating assets
  • The penalties for non-compliance

Outreach Programs

The Ministry will also conduct outreach programs in collaboration with the Financial Intelligence Authority and Bank of Uganda to raise awareness about the importance of these sanctions. These programs will educate organisations and stakeholders on:

  • The risks associated with proliferation financing
  • The consequences of failing to comply with targeted financial sanctions
  • The benefits of implementing effective compliance measures

Call to Action

Permanent Secretary Joseph B. Musanyufu called upon all organisations and stakeholders to use these guidelines and acquaint themselves with relevant provisions of international and national legal frameworks to ensure successful implementation.

By working together, Uganda can effectively counter terrorism financing and proliferation financing, and demonstrate its commitment to upholding international standards on combating terrorism.