Regulatory Alerts2020-12-09
Instruction No. 20/2020 of December 9 on AML/CFT Reporting, Risk Assessment, and IT Tools
The National Bank of Angola issued Instruction No. 20/2020 to mandate the standardized reporting model, annual risk assessment, and IT system adequacy for financial institutions regarding AML/CFT compliance. The directive requires institutions to submit detailed reports including annexes on due diligence, risk management, and sanctions screening by January 31 each year, alongside implementing interoperable IT tools by January 31, 2020. Non-compliance with these requirements constitutes an offense punishable under the Legal Framework of Financial Institutions Law.
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