Regulatory Alerts2012-01-01
The Anti-Money Laundering Regulations, 2012
The Government of Tanzania issued these regulations under the Anti-Money Laundering Act to establish comprehensive compliance frameworks for reporting persons. The rules mandate detailed customer due diligence, requiring the systematic collection and verification of identity data for citizens, residents, foreign nationals, entities, partnerships, and trusts. Reporting persons must implement internal procedures to identify customers, file suspicious transaction reports, maintain accurate records for specified retention periods, and face administrative sanctions for non-compliance.
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