The International Standards on Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT), requires that countries should identify, assess and understand the Money Laundering and Terrorist Financing (ML/TF) risks that they are exposed to, and should take action at ensuring that the risks identified are mitigated effectively. In fulfillment of this requirement,the Government of Uganda through the Ministry of Finance,Planning and Economic Development, under the co-ordination of the Financial Intelligence Authority (FIA), conducted a National AML/CFT risk assessment. The assessment was concluded in March 2017 and the NRA report produced was considered and adopted by Cabinet in August, 2017.
The FIA organized a workshop to disseminate the findings to the stakeholders at Sheraton
Hotel on the 13th September, 2018. The Objective of the workshop was to enable all stakeholders to understand the ML/FT risks and vulnerabilities that the country is exposed to, and the proposed mitigation measures that have been put in place to address them.
The FIA therefore wishes to rally public support and partnership in the fight against ML and TF under the strategic drive; "Safe money for a secure market". In a bid to achieve this, the public is encouraged to take note of the predicate crimes which generate proceeds and monitor the sectors with significant ML and TF risks and report any suspicious activities and unexplained enrichment which is not supported by known sources of income as we join hands to fight financial crime.