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National Payment Service Providers-Compliance Awareness and goAML Training

FIA Training and Awareness for National Payment Service Providers (NPSPs) - 14th to 18th February, 2022

Anonymity, high negotiability and utility of funds as well as global access to cash through ATMs are some of the major factors that can add to the attractiveness of Payment Service Providers (PSPs) for money launderers. Anonymity can be reached either “directly” by making use of truly anonymous products (i.e., without any customer identification) or “indirectly” by abusing personalized products (i.e., circumvention of verification measures by using fake or stolen identities, or using strawmen or nominees etc.).

The Money Laundering (ML) and Terrorist Financing (TF) risks posed by payment services can be effectively mitigated by several countermeasures taken by the National Payment Service Providers (NPSPs) and this is why the Financial Intelligence Authority (FIA) is conducting a training session for Money Laundering Control Officers (MLCOs) from the following Payment Service Providers:

  1. Future Link Technologies Ltd
  2. Chipper
  3. Agent Banking Company
  4. G Tech
  5. Pegasus
  6. Interswitch
  7. Yo Uganda
  8. MCash Uganda
  9. Wave Transfer

More here