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@kfm Mon, 27 Jan 2025 09:07:35

Task force calls for swift implementation of amendments to anti-money laundering law

The National Non-Profit Making Organization’s working group on the Financial Action Task Force in Uganda has urged the Minister of Finance, Planning, and Economic Development to expedite the issuance of a statutory instrument to implement Parliament’s approval amending Schedule 2 of the Anti-Money Laundering Act, Cap. 118. According to the task force, this amendment will not only improve the regulatory environment but will also foster trust and collaboration between the government and the non-profit sector. Speaking to the media from their offices in Ntinda, Kampala, Yonah Wanzala, Director General of the Civic Advisory Hub, said the Financial Intelligence Authority should formally notify all NGOs of their new responsibilities. These include no longer submitting the returns previously required of accountable persons. “We […]

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