This first National Risk Assessment exercise of Money Laundering and Terrorist Financing risks of Virtual Assets and Virtual Asset Service Providers in Uganda builds on a comprehensive understanding of the threats and vulnerabilities associated with these emerging financial systems.
It highlights the critical ML/TF impact they present and provides Ugandan authorities and the private sector with a solid foundation to address these risks.
The findings aim to guide the development of appropriate actions at both the national and sectoral levels, ensuring the protection of the country, its citizens, businesses, and society against these unwanted risks. This assessment is a cornerstone of Uganda’s commitment to meeting international AML/CFT standards and developing legislation dedicated to Virtual Assets and Virtual Asset Service Providers.