Regulatory Alerts2008-02-04
Regulation No. 001/2023 on the Fight Against Money Laundering and Terrorist Financing
The Banque de la République du Burundi issued Regulation No. 001/2023 to enforce the 2008 Anti-Money Laundering and Terrorist Financing Law, imposing strict compliance obligations on credit institutions, payment establishments, microfinance institutions, post offices, and currency exchange bureaus. The regulation mandates comprehensive customer due diligence, enhanced monitoring of politically exposed persons, and the immediate reporting of suspicious transactions to the National Financial Intelligence Unit. It further establishes internal control frameworks, staff training requirements, and administrative sanctions for non-compliance to ensure the integrity of the Burundian financial system.
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