Luanda - Angola continues to work to improve and mitigate the deficiencies identified by the Financial Action Task Force (FATF) Mutual Evaluation, an entity that establishes effective measures to combat money laundering, terrorist financing and other illicit practices.
The assurance was given on Tuesday in Luanda by the director-general of the Financial Intelligence Unit, Gilberto Capeça, during the first dialogue between the public and private sector on 'The risk-based approach, challenges and opportunities'.
On the occasion, he stressed that the various sectors have been working to implement the FATF recommendations.
It considered that the risk-based approach is crucial for the effective prevention of the instrumentalization of economic structures and mechanisms, and is the starting point for increasingly combating the most varied economic and financial crimes.
Gilberto Capeça highlighted some actions carried out by Angola within the scope of the FATF's recommendations, such as raising awareness of these issues and reassessing the banking sector for money laundering.
For her part, the UIF collaborator, Jacira Van-Dunem, said that within the framework of the FATF recommendations, the capital markets sector has increased inspections based on the risk approach, as well as the creation of a department for the treatment of money laundering matters.
She also recalled that, in January 2023, the banking sector issued a guideline for the application of fines in sanctioning proceedings.
She added that the guideline allows the supervisor to assess the nature and severity of breaches of capital banking and bank financing.
The collaborator, who presented the theme 'The impact of the risk-based approach, results of the Mutual Evaluation of Angola', added that thematic assessments of virtual assets, corruption and cross-border transport, among others, have been carried out.
The representative of the Angolan Association of Banks (ABANC), José Cerqueira, defended that banks must have the ability to control themselves so as not to be dependent on the supervisor.
According to the source, banking institutions should develop detailed policies and procedures to mitigate risks, as well as develop internal rules in line with national and international regulations to serve as a guiding guide for the management of internal processes.
The first public-private dialogue, promoted by the FIU, was attended by representatives of public and private companies and university students. ASS/QCB/DOJ
