The Financial Intelligence Authority (FIA) is pleased to announce the introduction of its new official letterhead, marking a significant upgrade in the security and authenticity of its correspondence. As of 1st March 2024, all FIA letters will feature a completely redesigned layout, a unique serial number for each document, and a QR code that can be scanned for authentication purposes. This innovative approach aims to ensure authenticity and to prevent fraud. This update underscores the FIA's commitment to leveraging technology for enhanced security in its operations.

Following the successful removal of Uganda from the list of high risk jurisdictions with weak Anti Money laundering systems, key players in the sector have embarked on laying strategies for sustainability measures.

In this regard, the management of the Financial Intelligence Authority(FIA) which is conscious of the next Mutual Evaluation slated for 2028, has reached out to the Judiciary to discuss mechanisms of improving the effectiveness in the prosecution and adjudication of money laundering/terrorism financing related cases.

Circular No.7 issued on 24th February, 2024 to all accountable persons high risk jurisdictions recommendation 19 of the financial action task force (FATF) standards regulation 44 of the anti-money laundering regulations, 2015 (as amended).

Today, 23rd February 2024, The FATF plenary, at its meeting in Paris, reached a conclusion that Uganda has fully implemented its action plan and has removed it from its list of countries under increased monitoring (grey list).

The full details of the statement can be found at https://www.fatf-gafi.org/en/publications/Fatfgeneral/outcomes-fatf-plenary-february-2024.html

Circular to all Accountants.

As you may be aware, Regulation 45 of the Anti-Money Laundering Regulations, 2015 (as amended) requires every accountable person to prepare a compliance report setting out the level of compliance with the act and Regulations and the internal anti-money laundering and combating terrorist financing policy of the accountable person at the end of each calendar year.