Regulatory Alerts2024-06-18
Instruction No. 05/2024 of 12 June
The National Bank of Angola issued Instruction No. 05/2024 to mandate Non-Bank Financial Institutions under its supervision to adopt a standardized AML/CFT/CPF reporting model, implement institutional risk assessments, and ensure the adequacy of IT tools for compliance. The directive requires annual risk evaluations submitted by March 10, specifies interoperability standards between core banking systems and compliance software, and sets a December 30, 2024 deadline for full regulatory alignment. Non-compliance triggers sanctions under existing Angolan financial and anti-money laundering laws, while the National Bank of Angola retains authority to resolve interpretative ambiguities.
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