Regulatory Alerts2020-12-08
Instruction No. 20/2020 of 9 December
The National Bank of Angola issued Instruction No. 20/2020 to standardize Anti-Money Laundering, Counter-Terrorist Financing, and Proliferation Financing reporting for supervised banking institutions. The directive mandates the annual submission of a structured BCFTP report by 31 January and individual institutional risk assessments by 10 March, while requiring financial institutions to implement interoperable IT tools for real-time transaction monitoring by 31 January 2020. It further establishes a transitional compliance deadline of 31 January 2021, details specific reporting and retention obligations for suspicious operations, and defines sanctions for non-compliance under the Framework Law of Financial Institutions.
Share