Onboarding of Forex Bureaus Onto the goAML Platform-Phase II
In 2019, Uganda became the second country in East Africa after Tanzania to launch a new reporting platform developed by the United Nations Office on Drugs and Crime to curb organized crimes. Uganda’s Financial Intelligence Unit launched the new anti-money laundering platform 'goAML’, which has been open for registration since July 2019.
goAML is an anti-money laundering (“AML”) reporting platform developed by the Information Technology Service of the United Nations Office on Drugs and Crime (“UNODC”) in partnership with the UNODC Global Programme Against Money Laundering, Proceeds of Crime and the Financing of Terrorism.
From Thursday 19th November 2020 to Wednesday 25th November 2020, the Financial Intelligence Authority (FIA) carried out a training to onboard 80 Forex Bureaus onto the goAML system. The first batch of 40 Forex Bureau representatives were trained between Thursday 19th November 2020 to Friday 20th November 2020, and the second batch of the other 40 representatives were trained from Tuesday 24th November 2020 to Wednesday 25th November 2020. The training was conducted in two separate batches in adherence to the Standard Operating Procedures (SOPs) as guided by the Ministry of Health due to the current COVID-19 situation.
Consequently, all these entities are now required to be registered on the goAML platform, whereby, going forward, should they want to report any suspicious activity or transaction, they will do so via the goAML platform.
All entities including Banks, Forex Bureaus, Insurance companies and Money Remitters, are required to register on the platform and 35 percent of them have already registered. The platform will help the FIA prevent money laundering, financing of terrorism and other illicit financial activities.
Caption: In attendance were the 40 Forex Bureau representatives listening to opening remarks from the Director, Systems Administration and Security of the FIA- Mr. Cyrus K. Barigye
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