Luanda - Angola has an institutional action plan to deal with the inclusion on the monitoring list of the Financial Action Task Force (FATF), the director-general of the Financial Intelligence Unit (FIU), Gilberto Capessa, said on Wednesday in Luanda.
The official was speaking to the press at the end of the meeting of the Supervisory and Coordination Committee of the National System for Preventing and Combating Money Laundering and Terrorist Financing.
He stressed that Angola has not returned to the FATF grey list, as has been said in recent times.
The director of the FIU informed that the action plan provides for national and sectoral risk assessment exercises, strengthening the technical and professional capacity of Angolan staff and strengthening the current legislative framework in matters of preventing and combating money laundering, terrorist financing, financing of the proliferation of weapons of mass destruction and other transnational organized crime.
'What happened is that Angola is on a reinforced monitoring list, which is different from the grey list,' he stressed, noting that the FATF assessed the country looking at two components.
He referred to technical compliance with the legislative framework and effectiveness.
According to Gilberto Capessa, in this assessment, the FATF observed whether Angola has a legislative framework to prevent and combat money laundering, terrorist financing and the proliferation of weapons.
The assessment was made in order to 'see if the framework designed has been implemented and if it is producing the results that were expected', he said.
Asked about sanctions for a country on the monitoring list, he said that there will be no financial consequences for Angola.
The official recalled that the country had a set of 87 shortcomings, 70 improved and 17 remained, of which about 50% to 60% are already in progress.
The meeting of the supervisory committee was chaired by the Minister of State for Economic Coordination, José de Lima Massano, and analysed the FATF deliberation on Angola's mutual evaluation process, as well as its plan and the action of the national institutions aimed at addressing the remaining 17 deficiencies.
The Ango recently reiterated to the FATF its firm commitment to building an effective system to prevent and combat money laundering, terrorist financing and proliferation of weapons of mass destruction, as well as any other forms of transnational organized crime. HM/VC/DOJ
