Regulatory Alerts2007-07-04
Directive No. 04/2007/CM/UEMOA on Combating Terrorism Financing in the Member States of UEMOA
The UEMOA Council of Ministers issued Directive No. 04/2007/CM/UEMOA to establish a unified legal framework for combating terrorism financing across West African Economic and Monetary Union member states. The Directive defines terrorism financing, criminalizes associated acts, and mandates enhanced due diligence, suspicious transaction reporting to CENTIF, and strict record-keeping for financial institutions and designated non-financial businesses. It integrates these obligations with existing anti-money laundering laws, extends jurisdiction to cross-border transactions, and imposes specific vigilance measures for Politically Exposed Persons and non-profit organizations to prevent the misuse of funds for terrorist activities.
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