Regulatory Alerts2015-07-02
UEMOA Council of Ministers Directive No. 02/2015 on Combating Money Laundering and Terrorist Financing
The UEMOA Council of Ministers issued Directive No. 02/2015 to harmonize and strengthen the legal frameworks of member states against money laundering, terrorist financing, and weapons proliferation. The Directive establishes comprehensive definitions for financial institutions, designated non-financial businesses, beneficial owners, and criminal offenses, while mandating a risk-based approach to supervision. It requires member states to implement coordinated preventive measures, including freezing and confiscation mechanisms, to safeguard the integrity and stability of the regional financial system.
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