Regulatory Alerts2019-07-05
Instruction No. 05/2019 on the Treatment of Notes with Dubious Legitimacy
The Banco Nacional de Angola issued Instruction No. 05/2019 to standardize the immediate retention and laboratory verification of Kwanza notes suspected of counterfeiting or forgery. Financial institutions, travel agencies, hotels, and commercial establishments must promptly seize suspicious notes, submit them with completed retention forms to the Circulating Medium Department within five days, and refrain from altering their physical characteristics. The BNA conducts laboratory analysis and issues an expert report within thirty days, after which verified notes are returned to holders while counterfeit foreign currency notes are forwarded to competent authorities, with non-compliance subject to penalties under the Basic Law of Financial Institutions.
INSTRUCTION NO. 05/2019 of July 5 SUBJECT: FINANCIAL SYSTEM
- Treatment of Notes with Dubious Legitimacy Whereas the Banco Nacional de Angola has prerogatives to proceed with the seizure of all notes suspected of counterfeiting, forgery, or alteration of face value presented to it, drawing up for this purpose the identification record of the notes and the bearer, as well as the grounds for suspicion; Whereas it is necessary to establish the procedures to be observed in the act of retention of counterfeit, forged, or suspicious notes; In exercise of the competence conferred upon me under the combined provisions of Articles 12 and 13, and Article 51, both of Law No. 16/10 of July 15 – the Banco Nacional de Angola Act. I DETERMINE:
- This Instruction establishes the procedures to be observed in the act of retention of notes, expressed in Kwanza, whose falsity is evident or there are sufficient grounds to be presumed, regardless of the manner of their presentation and the context in which it occurs.
- This Instruction applies to Financial Institutions, travel or tourism agencies, hotels, value transport companies, and commercial establishments that operate professionally with cash necessary for their economic-financial activity.
CONTINUATION OF INSTRUCTION NO. 05/2019 Page 2 of 5 3. The Institutions specified in paragraph 2 of this Instruction must retain, immediately, the notes expressed in Kwanza, whenever there are indications of counterfeiting or forgery or sufficient grounds for presumption. 4. Whenever, repeatedly, facts occur that may indicate suspicion of counterfeiting or forgery by a client, arising from deposits or payments involving substantial quantities of the aforementioned notes, they must be retained, and the responsible person of the Institution must immediately notify the competent authorities for the purposes of the respective investigation procedure. 5. The notes retained under the provisions of the preceding paragraphs must be sent to the Circulating Medium Department (CMD) of the Banco Nacional de Angola (BNA), within a period of up to 5 (five) days, counted from the date of seizure of the aforementioned notes, by official letter, accompanied, obligatorily, by the note retention form, fully completed, and must include all information elements specified in the model contained in Annex I to this Instruction, which is an integral part. 6. It is the responsibility of the Circulating Medium Department of the BNA to conduct laboratory analysis of the aforementioned notes, for confirmation of their authenticity. 7. The laboratory analysis specified in the preceding paragraph culminates with the production of an expert report, which the BNA may share with the Institution that effected the seizure of the notes, containing data on the technology used for analysis of the notes, identification of the notes and the bearer, as well as the grounds for suspicion. 8. For the purposes of paragraph 2 of this Instruction, Institutions are prohibited from altering the physical or visual characteristics of the retained notes, by affixing stamps, writings, staples, or other elements that directly or indirectly may prejudice their expert analysis.
CONTINUATION OF INSTRUCTION NO. 05/2019 Page 3 of 5 9. Notes with proven legitimacy are attached to the expert report, so that Institutions proceed with their return to the respective holders, while counterfeit notes remain retained in the custody of the BNA. 10. The result of the note analysis process is communicated to the holders of the retained notes within a maximum period of 30 (thirty) days. 11. Foreign currency counterfeit notes must be sent to the competent authorities, accompanied by the duly completed form, contained in Annex II to this Instruction, which is an integral part. 12. For communications to the Banco Nacional de Angola, under this Instruction, whenever applicable, entities specified in paragraph 2 must use the following contact: § Banco Nacional de Angola § Av. 4 de Fevereiro No. 151 - Luanda – Angola § P.O. Box 1243 § Tel: (+244) 222 679200 13. Failure to send information, provision of incorrect information, or non-compliance with established deadlines subjects Institutions to the penalties provided in Law No. 12/15 of June 17 – the Basic Law of Financial Institutions. 14. Doubts and omissions resulting from the interpretation and application of this Instruction are resolved by the Banco Nacional de Angola. 15. This Instruction enters into force on the date of its publication. PUBLISHED. Luanda, July 5, 2019. THE GOVERNOR JOSÉ DE LIMA MASSANO
CONTINUATION OF INSTRUCTION NO. 05/2019 Page 4 of 5 ANNEX I Kwanza Note Retention Form Model of Receipt for Note Retention due to Dubious Legitimacy Form No. …………… Date……../….../………….. 1 – Identification of the Institution responsible for retention Name:____________________________________________________ Address: _____________________________ Locality: _____________ Telephone: ___________________________ Employee Name:____________________________________________ 2 – Identification of the Bearer/Depositor Name:__________________________________________________________ Address:_________________________________________________________ Locality:______________________________________________________ Telephone ______________________________________________________ ID No. or Passport No.: ___________________________________________ (Mark with an X) Presented for: Deposit______ Exchange_______ Change Operation Payment_______ 3 – Description of the retained note(s) Serial Number Face Value 4 – Signatures I declare that I have taken note of the retention documented by this document and confirm that the information provided to complete this form is true. Signature of bearer/depositor
Date //______ Time _____ h _____ Received, on //____
Institution Stamp
Employee Signature
CONTINUATION OF INSTRUCTION NO. 05/2019 Page 5 of 5 ANNEX II Foreign Currency Note Retention Form Model of Receipt for Note Retention due to Dubious Legitimacy Form No. …………… Date……../….../………….. 1 – Identification of the Institution responsible for retention Name:____________________________________________________ Address: _____________________________ Locality: _____________ Telephone: ___________________________ Employee Name:____________________________________________ 2 – Identification of the Bearer/Depositor Name:__________________________________________________________ Address:_________________________________________________________ Locality:______________________________________________________ Telephone ______________________________________________________ ID No. or Passport No.: ___________________________________________ (Mark with an X) Presented for: Deposit______ Exchange_______ Change Operation _______ 3 – Description of the retained note(s) Serial Number Face Value 4 – Signatures I declare that I have taken note of the retention documented by this document and confirm that the information provided to complete this form is true. Signature of bearer/depositor
Date //______ Time _____ h _____ Received, on //____
Institution Stamp
Employee Signature