Regulatory Alerts2024-03-27
Notice No. 02/2024 of 22 March
The Banco Nacional de Angola issued Notice No. 02/2024 to establish comprehensive rules and procedures for money laundering, terrorism financing, and proliferation of weapons of mass destruction (AML/CFT/CPF) compliance for supervised financial institutions. The notice mandates periodic institutional risk assessments, standardized client identification and due diligence processes, and the implementation of proportional IT tools to monitor transactions and manage risks. It further defines key roles such as the Compliance Officer, specifies information sources for risk mitigation, and outlines procedures for account opening, suspicious transaction reporting, and regulatory exemptions based on institutional size and complexity.
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