Regulatory Alerts2022-10-31
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Circular Letter No. 10/2022
The Banco Nacional de Angola issued Circular Letter No. 10/2022 to implement Financial Action Task Force (FATF) measures by mandating enhanced due diligence for financial institutions engaging with high-risk jurisdictions subject to countermeasures, while requiring risk assessments to account for grey-listed countries under continuous monitoring. The circular specifies that financial institutions must obtain prior management authorization for transactions with high-risk jurisdictions and archive risk assessment data for grey-listed countries, with Nicaragua and Pakistan recently removed from continuous monitoring. This directive takes effect upon publication to safeguard the international financial system against money laundering, terrorist financing, and weapons of mass destruction proliferation.
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