Key Documents

Angola Requires CDD, Recordkeeping Procedures for Banks

December 6, 2011

Angola Outlines Responsibilities of FIU (in Portuguese)

February 15, 2011

Angola Issues Asset Freezing Procedures for Designated Entities (in Portuguese)

July 24, 2012

Important Facts

The U.S. State Department labels Angola as a jurisdiction of concern. Angola is not a regional financial center. It does not produce large quantities of narcotics but acts as a transit point for drug trafficking, particularly for drugs brought in from Brazil and South America destined for Europe. It is also becoming a destination point for illicit drugs. Angola’s borders are porous and vulnerable to general smuggling and trafficking in small arms, diamonds, humans and motor vehicles. Angola has a high rate of U.S. dollar cash flow, though the government is implementing financial policies to decrease the use of currencies other than the Angolan kwanza. The laundering of funds derived from widespread corruption is a concern.
KYC Covered Entities: Commercial and investment banks, microfinance institutions, financial groups, insurers, stock markets, casinos, lotteries, dealers in precious stones and metals, high-value goods merchants, currency exchange and remittance companies, paycheck issuers and managers, pension fund managers, individual and collective estate management groups, accountants, auditors, notaries, registrars, attorneys, solicitors, and other independent legal professionals
STR Covered Entities: Commercial and investment banks, microfinance institutions, financial groups, insurers, pension fund managers, casinos, lotteries, dealers in precious stones and metals, high-value goods merchants, currency exchange and remittance companies, paycheck issuers and managers, individual and collective estate management groups, accountants, auditors, notaries, registrars, attorneys, solicitors, and other independent legal professionals
Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: No
Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 0 (2015); Convictions: 0 (2015)

Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical	Effectiveness
Compliant : 3	High :
Largely Compliant : 9	Substantial :
Partially Compliant : 19	Moderate :
Non-Compliant : 17	Low :
Not-Applicable : 1

BASEL i

Rank : 13/141

Score : 7.02/10

TRANSPARENCY INTERNATIONAL i

Rank : 146/180

Score : 26/100

Tax Justice Network i

Rank : 35/133

Score : 80/100

Angola

New Documents

News

Enforcement Actions

Key Documents

Important Facts

Rankings

FATF i

BASEL i

TRANSPARENCY INTERNATIONAL i

Tax Justice Network i