Regulatory Alerts2021-01-14
Anti-Money Laundering Risk-Based Oversight and Supervision Guideline (January 2021)
The Reserve Bank of Zimbabwe issues this risk-based oversight guideline to require payment services providers and financial institutions to implement proportionate anti-money laundering and counter-terrorist financing frameworks aligned with the Money Laundering and Proceeds of Crime Act. Reporting entities must conduct comprehensive institutional risk assessments, apply tiered customer due diligence measures based on dynamic risk profiling, and maintain robust governance, transaction monitoring, and suspicious activity reporting systems. The guideline establishes enforceable minimum standards that enable targeted supervisory inspections while allowing regulated entities to allocate compliance resources efficiently according to their specific risk appetites.