The Virtual Asset Working Group of the Financial Intelligence Authority recently concluded an intensive week-long workshop focused on enhancing knowledge and understanding of virtual assets and their associated risks. The workshop aimed to equip participants with practical tools and strategies to effectively regulate and supervise virtual asset service providers (VASPs) in line with global best practices.
Following the Mutual Evaluation process, Uganda made a high political commitment to address the identified strategic deficiencies. Under the FATF Action Plan, Uganda was required to enact laws on implementation of targeted financial sanctions and conduct trainings for financial institutions and DNFBPs on the same.
Issuance of Guidelines on Targeted Financial Sanctions
17th April 2022
The Financial Intelligence Authority (FIA) hereby informs all accountable persons that it hereby issues guidelines on Targeted Financial Sanctions. This follows the amendment of the Anti-Terrorism Act, Cap 120, and issuance of the Anti-Terrorism Regulations of 2023.
The Financial Intelligence Authority (FIA) in partnership with the UNODC Eastern Africa held an awareness drive to digitally register all Accountable Persons (APs) in the country. This took place at the Silver Springs Hotel in Kampala on 31st March, 2023.
Over 400 members of the public attended the awareness session online, in addition to the 40 plus members who attended physically. This is a good indicator of increased public interest and understanding of the AML/CFT matters.
