Regulatory Alerts2025-01-22
Law 001/2025 on the Prevention and Punishment of Money Laundering, Terrorist Financing and Proliferation Financing
The Parliament of Rwanda, promulgated by President Paul Kagame on 22 January 2025, enacted Law 001/2025 to establish a comprehensive legal framework for preventing and punishing money laundering, terrorist financing, and the financing of weapons of mass destruction proliferation. The legislation mandates reporting persons and competent authorities to implement risk-based customer due diligence, regulate virtual assets and new technologies, enforce targeted financial sanctions on designated persons, and apply specific supervisory obligations to non-profit organizations. It defines corresponding offences and penalties, establishes robust information-sharing and international cooperation mechanisms, and aligns Rwanda’s regulatory standards with key United Nations and African Union conventions.