Regulatory Alerts2025-04-30
2024 Rwanda National Risk Assessment on Money Laundering and Terrorist Financing
Rwanda authorities issued the 2024 National Risk Assessment to update and expand upon the 2018 evaluation, requiring financial institutions, designated non-financial businesses, and virtual asset service providers to align their anti-money laundering and counter-terrorist financing frameworks with identified sector-specific vulnerabilities. The assessment determines an overall Medium risk for both money laundering and terrorist financing, highlighting critical gaps in beneficial ownership transparency, DNFBP regulation, tax evasion capacity, and cross-border terrorist financing. Consequently, the report mandates a strategic action plan to strengthen supervisory oversight, enhance data collection for environmental and tax crimes, and implement risk-based measures that bolster Rwanda’s financial integrity.