TanzaniaThe Basel Institute on Governance and Zanzibar’s Office of the Director of Public Prosecutions signed a memorandum of understanding that will increase cooperation in fight against corruption and economic crimes, as well as in the recovery of illicit assets.
The Eastern and Southern Africa Anti-Money Laundering Group published its mutual evaluation report on Tanzania’s anti-money laundering and counterterrorist financing measures, reviewing the country’s compliance with Financial Action Task Force Recommendations.
In our final installment for 2021, the moneylaundering.com legal team revisits our coverage over the past year.
Legal Brief: AML Regional Group Criticizes Slow Progress in Eastern, Southern Africa
In the latest installment of our series, the ACAMS moneylaundering.com legal team covers recent AML/CTF developments in five African nations.
The Bank of Tanzania issued a notice announcing the fine of TZS175 million against the Dar es Salaam, Tanzania-based financial institution for its violation of regulations 17, 22 and 28 pursuant to Anti-Money Laundering Regulations, 2012.
The Bank of Tanzania announced a fine of TZS325 million against the Dar es Salaam, Tanzania-based bank by the Bank of Tanzania is for its breach of regulations 17, 22 and 28 of the Anti-Money Laundering Regulations, 2012.
| Technical | Effectiveness |
|---|---|
| Compliant : 3 | High : 0 |
| Largely Compliant : 12 | Substantial : 0 |
| Partially Compliant : 16 | Moderate : 2 |
| Non-Compliant : 9 | Low : 9 |
| Rank : 26/141 |
| Score : 6.39/10 |
| Rank : 96/180 |
| Score : 37/100 |
| Rank : 98/133 |
| Score : 71/100 |