Regulatory Alerts1999-12-01
Added · Updated
Reporting of Suspicious Transactions
Banking institutions are required to report any transaction, irrespective of the amount involved, that might fall within the ambit of Article 19 of United Nations Security Council Resolution 864 (1993). This obligation applies to transactions involving the sale or supply of arms, related material, military assistance, petroleum, and petroleum products to UNITA or the territory of Angola. The Bank of Namibia considers breaches of this resolution to constitute illegal activity under domestic law.