Regulatory Alerts2012-04-25
Notice No. 21/2012
The National Bank of Angola issued Notice No. 21/2012 to regulate non-bank financial institutions' compliance with the Money Laundering and Terrorist Financing Combating Law. The notice mandates comprehensive customer due diligence, including strict identification requirements for individuals and corporate entities, continuous transaction monitoring, and the appointment of a Compliance Officer. It establishes detailed procedures for verifying beneficial owners, managing occasional transactions exceeding USD 15,000, and delegating identification duties to third parties while maintaining regulatory oversight.
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