ESAAMLG Uganda 5th Enhanced Follow-up Report & Technical Compliance Re-Rating
The Mutual Evaluation Report (MER) of Uganda was adopted by the Task Force in April 2016 and subsequently approved by the Council of Ministers in May 2016. This follow-up report assesses the progress made by Uganda to resolve the technical compliance shortcomings identified in its MER. New ratings are given when sufficient progress has been made. This report also assesses the progress made in implementing the new requirements of one of the FATF Recommendations that has been updated since the adoption of the MER: Recommendation 2.
In general, countries are expected to have corrected most or all of their technical compliance shortcomings by the end of the second year of follow-up at the latest. This report does not cover the progress made by Uganda in improving its effectiveness. Progress in this area will be assessed as part of a subsequent follow-up assessment. If sufficient progress has been made, the Immediate Outcome ratings may be reviewed.
This report summarizes the progress made by Uganda on technical compliance.
Uganda: Follow-up Report
ESAAMLG (2021), Anti-money laundering and counter-terrorist financing measures - Uganda, 7th Enhanced Follow-up Report & Technical Compliance Re-Rating, ESAAMLG, Dar es Salaam
National Strategy for Combating Money Laundering and the Financing of Terrorism and Proliferation FY 2020/21- FY 2024/25
Uganda is committed to the global fight against Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF). To this end Uganda has formulated a National Anti-Money Laundering (AML)/Countering Financing of Terrorism (CFT) and Proliferation Strategy to address the deficiencies existing in its AML/CFT regime, and mitigate the Money Laundering (ML), Terrorist Financing (TF) and Proliferation Financing (PF) risks that it is exposed to. The strategy is intended to address the findings of Uganda's money laundering and terrorist financing risk assessment which was conducted in 2017. It also seeks to provide a blueprint for strengthening Uganda's AML/CFT framework over the next five years based on the recommendations arising from the ESAAMLG mutual evaluation assessment report on Uganda's AML/CFT measures.
ESAAMLG-UGANDA Mutual Evaluation Report 2016
This report provides a summary of the AML/CFT measures in place in the Republic of Uganda (Uganda) as at the date of the on-site visit. It analyses the level of compliance with the FATF 40 Recommendations and the level of effectiveness of Uganda’s AML/CFT system, and provides recommendations on how the system could be strengthened.
Money Laundering and Terrorism Financing National Risk Assessment Report - 2017
This report presents an overview of the systemic money laundering and terrorist financing (ML/TF) risks, threats and vulnerabilities with a potential to harm Uganda’s economy.
Guidance Notes on Anti-Money Laundering and Combating the Financing of Terrorism for Dealers in Precious Metals & Stones
Challenging Africa's Human Trafficking Problem-The Role of Banks and Fintechs (ARMC Perspectives).
The banking and fintech sectors must continue to rise to the challenge of ensuring that their corporate governance structures and risk management systems are designed and constantly redesigned to take care of the growing threat of ML/TF across the globe, while Regulatory Authorities, including Financial Intelligence Units and Central Banks must ensure that technology and globalization does not give money launderers an opportunity to explore new techniques to commit and cover their crimes.
goAML Training Event Report
The training was organized for 80 forex bureaus, with the first batch of 40 participants attending on the 19th & 20th November 2020 and the second batch of 40 participants attending on the 24th & 25th November 2020.
To train different forex bureaus on the registration, use and application of the goAML web-based program as a platform of communication when reporting to the FIA cases of money laundering and terrorist financing in their respective institutions.
Customs - FIU Cooperation Handbook (CFCH)
An AML/CFT tool and reference guide for all FIUs and Customs Services which will enhance their capacities to combat financial crime and money laundering in the Customs arena. The handbook has also been strategically constructed for FIUs and Customs Services to address Customs-based money laundering in a three-prong fashion: identification, interdiction and investigation.
goAML Training Event-Impact Report
Overall, participants’ confidence in their ability to detect fraud greatly increased after receiving the training with many of the participants making use of the training material in their work and training others within their respective forex bureaus. The most common reason for the forex bureaus engaged not making use of the goAML system was the forex bureaus’ need to first test out the system before fully implementing its use.
Presentation: AML/CFT Training for Payment Service Providers & Payment System Operators
- Number 14 (d) of the second schedule to the Anti-Money Laundering Act (AMLA), 2013 lists any other person who conducts the business of ; the transfer of money or value issuing and managing means of payments e.g. credit and debit cards, cheques, travellers’ checks, money orders, bankers’ drafts, electronic money is an accountable person.
- The nature of business of Payment Service Providers & Payment System Operators fall under the one or both categories and therefore have obligations to meet. The nature of the business makes the Service providers and system operators vulnerable to ML & TF.
- PSP & O provide lower cost option for persons that need to send money quickly to another person as funds can be picked up by a recipient in a relatively short timeframe, as opposed to waiting for domestic or international wire transfers that may take several days to process in some cases. The financial service provided is often cheaper than more conventional banking services.
Legal Persons & Arrangements
ML/TF Risk Assessment Report
Uganda is committed to prevent the misuse of legal persons and arrangements such as companies, partnerships, trusts and SACCOs as channels for money laundering and terrorist financing. As the threats from illicit financial flows and terrorist financing continue to evolve, the Country needs to understand the risks and design appropriate mitigation measures
Uganda has published its first ML/TF risk assessment report for legal persons and arrangements. This Risk assessment report identifies the threats, vulnerabilities and methods used by criminals to launder proceeds of crime and finance terrorism using legal persons and arrangements
Terrorism Financing Risk Assessment for Non-Profit Organizations (NPOs) 2023
Uganda conducted the first Terrorism Financing Risk Assessment (TFRA) for the Non-Profit Organizations in Uganda. The assessment was undertaken in line with FATF Recommendation 8, and Immediate Outcome 10, which, require countries to identify the organizations that fall under the FATF definition of NPOs and to use available information to determine the features and types of those NPOs that, based on their activities are likely to be at risk of being abused for terrorist financing.
The overall objective of this risk assessment is to provide an understanding of the terrorism financing risk posed by the NPO sector in Uganda and based on this assessment, Uganda is required to apply focused and proportionate measures, in line with the risk-based approach, to such Non-Profit Organizations that were identified as being more vulnerable in order to protect them from terrorist financing abuse. The expectation is that terrorists, terrorist organisations and terrorist financiers are prevented from raising, moving and using funds, and from abusing the NPO sector.
Money Laundering and Terrorism Financing National Risk Assessment (NRA) Report for Uganda 2023
Uganda conducted the second National Risk Assessment (NRA) of her money laundering (ML) and terrorist financing (TF) risks. The assessment covers the period 2017 to 2020 for Money Laundering (ML) and the period ending December 2021 for Terrorism/Terrorism financing. The purpose of the NRA is to identify, assess, and understand the money laundering and terrorist financing risks for the country, as required by Financial Action Taskforce (FATF) Recommendation 1. Based on this assessment, Uganda is required to apply a risk-based approach (RBA) to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate with the risks identified. This approach is the essential foundation to the efficient allocation of resources across the Anti-money Laundering and Countering the Financing of Terrorism (AML/CFT) regime and the implementation of risk-based measures throughout the other 39 FATF Recommendations. All financial institutions, designated non-financial businesses and professions (DNFBPs), and relevant Ministries, Departments and Agencies (MDAs) are accordingly required to identify, assess and take effective action to mitigate their money laundering and terrorist financing risks.