Experts Conduct a Regulatory Impact Assessment on Anti-Money Laundering Act

Key stakeholders from Ministries, Departments, Agencies, and development partners (MDAs) in the Anti-Money Laundering and other financial crimes space are meeting to discuss the Regulatory Impact Assessment (RIA) on the Anti-Money Laundering Act and its related regulations, to address gaps in the legislative framework.

According to the Financial Intelligence Authority (FIA) Executive Director, Mr. Samuel Were Wandera, the RIA process is a cornerstone of evidence-based policymaking, ensuring that our legislative and regulatory frameworks are not only well-informed but also responsive to the evolving needs of our economy, society, and international obligations.

Mr. Wandera states that Uganda has made significant, commendable progress in the fight against money laundering and terrorism financing. This is evidenced by our removal from the FATF greylist in February 2024 and, more recently, from the EU blacklist in June 2025. These milestones reflect the collective efforts of all stakeholders and the Government’s unwavering commitment to strengthening our AML/CFT regime. However, despite these achievements, our legal and regulatory framework still contains gaps that must be addressed to sustain and build on this progress.

The FIA has undertaken a comprehensive review of the AMLA Act Cap 118 and identified several critical areas for amendments. The proposed amendments are aimed at enhancing Uganda’s AML/CFT/CPF framework by addressing the outstanding 11 FATF recommendations where Uganda remains rated as non-compliant or particularly compliant, as highlighted in the 2016 Mutual Evaluation Report.

The United Nations Office on Drugs and Crime (UNODC) Head of Office in Uganda, Ms. Sharon Lesa Nyambe, is pleased by the continued momentum gained so far towards ensuring that Uganda’s financial safeguards are strengthened and there is enhanced compliance with international standards, particularly with the Recommendations of the Financial Action Task Force (FATF).

She asserts that Money Laundering, Terrorism Financing, and Proliferation Financing undermine national security, economic stability, and the rule of law. Uganda has made progress in establishing a legislative and institutional framework to combat these threats, including the enactment of the Anti-Money Laundering Act (AMLA) in 2013 and subsequent amendments in 2017.

Despite these reforms, the AMLA still contains critical gaps—particularly in areas where Uganda remains either non-compliant or partially compliant with FATF recommendations.

“The ongoing Regulatory Impact Assessment is therefore vital as it ensures that policy decisions are evidence-based, inclusive, and well-informed. This session is not just a procedural requirement—it is an opportunity to align Uganda’s legislation with global standards while ensuring the reforms are practical, context-appropriate, and sustainable”.

Ms. Nyambe says the UNODC works to make the world safer from drugs, organized crime, corruption, and terrorism by collaborating with Member States to promote justice and the rule of law. As the custodian of key international legal frameworks, such as the UN Conventions on Transnational Organized Crime, Corruption, and Drug Control, and standards, UNODC brings decades of experience and expertise in providing technical and normative assistance in these critical areas.

In the Eastern Africa region, UNODC’s Strategic Vision for 2024-2030 guides our efforts, focusing on seven priority areas: (i) drug control, (ii) organized crime, (iii) terrorism and violent extremism, (iv) cybercrime, (v) resources and livelihoods, (vi) corruption, and (vii) criminal justice. This vision shapes our capacity-building initiatives to address regional challenges effectively.

The UNODC official recognized the importance of supporting Uganda in its fight against financial crimes. UNODC, under our ongoing five-year programme, “Strengthening Crime Prevention and Criminal Justice,” is proud to support this 5-day consultative workshop, in line with our mandate to strengthen criminal justice systems and promote financial integrity. We believe that effective AML/CFT legislation is a cornerstone of wider efforts to combat organized crime, corruption, and illicit financial flows. We are also committed to ensuring that reforms are implemented with a strong human rights and rule of law foundation

The Regulatory Impact Assessment (RIA) launched today is a crucial step in aligning Uganda’s Anti-Money Laundering Act with both national needs and global expectations. The RIA in as much as it shall provide evidence-based justification for proposed amendments in areas where Uganda remains partially or non-compliant with FATF standards, it also ensures that the amendments shall be applicable within the Ugandan context at the current level of development, even as we continue to advance.

This process not only improves the legislative framework but also reinforces the legitimacy and effectiveness of financial oversight systems, making Uganda more resilient to money laundering, terrorism financing, and related threats.