Regulatory Alerts2022-06-01
Regular Risk Assessment of Money Laundering and Terrorism Financing
The Bank of Uganda directs all supervised financial institutions to conduct regular money laundering and terrorism financing risk assessments in compliance with Regulation 8 of the Anti-Money Laundering Regulations, 2015. Institutions must integrate the Financial Intelligence Authority’s National Risk Assessment findings, particularly high-risk sectors and jurisdictions, into their individual evaluations and implement enhanced mitigation measures. These directives take immediate effect, requiring a comprehensive review of existing assessments and granting the regulator authority to request recent results for risk-based supervision.
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