Regulatory Alerts2023-08-24
Instruction No. 35/2008 on the Fight Against Money Laundering Among Approved Actors of the UMOA Regional Financial Market
The Regional Council for Public Savings and Financial Markets (CREPMF) issued Instruction No. 35/2008 to mandate approved UMOA financial market actors—including stock exchanges, central depositories, asset managers, and banks—to implement robust anti-money laundering frameworks. The directive requires these entities to enforce strict customer identification, maintain transaction records for ten years, and deploy internal monitoring systems capable of detecting atypical and suspicious operations. Furthermore, it obligates these actors to report findings to the National Financial Intelligence Unit (CENTIF), ensure staff training, and submit annual compliance reports detailing their internal controls and risk mitigation measures.
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