Regulatory Alerts2023-03-01
Circular Letter No. 02/2023
The National Bank of Angola issued Circular Letter No. 02/2023 to implement Financial Action Task Force (FATF) measures aimed at protecting the financial system from money laundering, terrorism financing, and weapons of mass proliferation risks. The circular mandates high-risk jurisdictions (North Korea and Iran) to face proportional countermeasures, such as limiting business relationships and enhancing audits, while requiring enhanced due diligence for Myanmar and continuous monitoring jurisdictions. Financial institutions must adapt their risk assessments accordingly, with the circular taking effect upon publication on March 1, 2023.
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