Regulatory Alerts2004-07-19
Added · Updated
Instruction No. 15 (VAD MEC) - Vade Mecum on Combating Money Laundering and Terrorist Financing
The Central Bank of the Congo mandates financial intermediaries to implement minimum diligence measures for preventing and detecting money laundering and terrorist financing. The document defines legal offenses, outlines the three-phase laundering process, and establishes preventive, repressive, and financial intelligence frameworks. It imposes specific obligations on intermediaries, including customer identification, transaction surveillance, internal control systems, and staff training. Additionally, it provides an indicative list of general and specific suspicious activity indicators across cash, account, securities, international, loan, correspondent, and safe deposit box operations.