Regulatory Alerts2025-04-01
BCEAO Instruction 001-03-2025 on Financial Institutions' AML, CFT and Proliferation Financing Compliance
The Central Bank of West African States (BCEAO) issued Instruction 001-03-2025 to establish detailed implementation procedures for financial institutions' internal organization, control, and compliance obligations regarding money laundering, terrorist financing, and proliferation financing. The Instruction mandates the establishment of dedicated internal AML/CFT/PF structures, robust information systems, and comprehensive staff training programs while defining specific reporting and audit requirements for both standard financial institutions and manual exchange dealers. It further clarifies risk assessment methodologies, customer due diligence standards, cross-border correspondence rules, and quarterly foreign exchange reporting obligations to ensure consistent regulatory adherence across UEMOA member states.