The Financial Intelligence Authority (FIA) has commenced the National ID Card verification exercise as one of the activities emanating from the MOU between the FIA and NIRA, the National Identification and Registration Authority. Machines that make it possible to read details technologically encrypted on Uganda’s National IDs were handed over to the Financial Intelligence Authority by NIRA officials, a move expected to ensure accuracy of data captured with regards to the designated goAML platform Web Users.

The Financial Intelligence Authority (FIA) has signed a memorandum of understanding (MoU) with the National Identification and Registration Authority (NIRA), granting the FIA ease of access to data on citizens’ national IDs as one of the ways to fighting money laundering and terrorism financing.

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FIA-NIRA MoU Signing

The Financial Intelligence Authority (FIA) on Tuesday 6th October 2020 held a workshop to officially commence the ML/TF Risk Assessment of Legal Persons and Arrangements in Uganda.

The Financial Intelligence Authority requires all Virtual Asset Service Providers to comply with all the legal requirements in the Anti-Money Laundering Act, Cap 118 (as amended), the regulations made thereunder and all relevant guidelines issued by the Financial Intelligence Authority. All Virtual Asset Service Providers are therefore required to register with the Financial Intelligence Authority as accountable persons within 30 days from the day of publication of the Instrument in the National Gazette.

Banks have complied with the requirement of submitting suspicious transaction reports and large cash transactions reports in the manner prescribed by the FIA.