Africa-Press – Angola. The Southern African Development Community (SADC) has started the process to operationalize the Anti-Money Laundering and Combating the Financing of Terrorism Committee (AML/CFT), as provided for in the protocol on Finance and Investment of this regional bloc.
According to a note this Monday, this process aims to intensify SADC’s efforts to combat money laundering and terrorist financing.
To this end, SADC has on its agenda the inaugural AML/CFT meeting for February this year, aiming to facilitate the convergence of policies, laws and regulatory practices of Member States, within the scope of the recommendations of the Financial Action Task Force (FATF), as well as supporting effective and proportionate action against money laundering and terrorist financing in the region.
According to the document, the operationalization of the SADC AML/CFT Committee follows the decision taken by the Ministers of Finance and Investment at the meeting held in the Democratic Republic of Congo, in July 2023.
During the meeting, Member States were informed of the recommendations of the two studies commissioned under the Support Program for the Improvement of Investment and the Business Environment (SIBE), namely the assessment of the level of risk for the implementation of FATF recommendations and the assessment of capabilities of national authorities to combat illicit money.
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