Regulatory Alerts2022-09-01
Bank of Uganda AML/CFT Customer Due Diligence Guidelines for Supervised Financial Institutions
The Bank of Uganda issued these guidelines to establish minimum anti-money laundering and counter-terrorist financing standards for all supervised financial institutions operating in the country. The document mandates a risk-based customer due diligence framework requiring institutions to verify client identities, identify beneficial owners, and conduct ongoing monitoring tailored to specific risk profiles. It further outlines mandatory procedures for enhanced due diligence regarding politically exposed persons, high-risk jurisdictions, correspondent banking, and wire transfers to ensure consistent regulatory compliance.
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