Prime
Govt to review Anti-money laundering Act 2013
Group of participants during the Africa Region Conference on Combating Financing of Terrorism in Kampala on August 5, 2024– SHABIBAH NAKIRIGYA.
What you need to know:
- Plans are underway to amend the legislation.
Government plans to amend the Anti-money laundering Act 2013 to remove non-profit making organizations, as accountable persons, authorities said on Monday.
The Anti-Money Laundering Act, 2013 (AMLA) was passed to provide for the prohibition and prevention of money laundering by establishing the Financial Intelligence Authority (FIA) to combat money laundering activities, impose certain duties on institutions such as NGOs, churches and other charitable organizations
Bright Besigye, the FIA manager for International Relations said “together with the NGO Bureau, they’ve conducted a terrorist financing risk assessment which revealed the status of NGOs in regard to terrorism financing.”
“The findings of the assessment indicate that overall, the terrorism financing risk for all Non-Profitable Organizations (NPOs) in Uganda is low,” he observed during the Africa Region Conference on Combating Financing of Terrorism in Kampala on Monday.
“By those findings, the NPOs and international partners Uganda have made a decision to amend the money laundering Act 2013 to remove non- profit organization, NGOs as accountable persons,” he revealed.
Yona Wanjala, the executive director of the Defenders Protection Initiative said that the Anti- Money Laundering Act in Uganda places the NGO actors accountable thus they (NGOs) have an obligation to report suspicious transactions.
“The Law should be reconsidered and get amended to remove, NGOs from being accountable,” he emphasized.
Wanjala also accused government of using anti money laundering policies to interfere with operations of civil societies.
“Using soft power and dialoguing with NGOs are some of the methods government and enforcers should be using in confronting the financing of terrorism,” he said
Police Counter-Terrorism Directorate manager SCP David Waswa said that they can only be at the same page with CSOs if they sensitize masses on money laundering.
“We all know the role played by CSOs, by providing an oversight to several government policies, so the population see them as their fighters therefore we should bring them on board,” he said
Early 2024, Uganda was removed from the FATF grey list, a move welcomed by government as “a testament to its unwavering commitment to fostering a transparent and secure financial environment.”
