By CHIMPREPORTS
The Financial Action Task Force (FATF), a global body entrusted with leading efforts to counter the misuse of the financial system by criminals and terrorists, announced on Friday, February 23, 2024, that Uganda has been removed from the grey list.
This decision was reached during the 5th FATF Plenary held in Paris, France, under the two-year Singapore Presidency of T. Raja Kumar.
The removal from the grey list comes after a recent onsite assessment conducted to verify the implementation of reforms in anti-money laundering and countering the financing of terrorism in Uganda.
Uganda’s Ministry of Finance, in collaboration with FATF, confirmed that the country has successfully completed the necessary reforms to combat money laundering, terrorism financing, and proliferation financing, aligning with international standards.
In a statement released on Friday, the Ministry of Finance emphasized that, “Through the Financial Intelligence Authority (FIA), Uganda will continue fostering the integrity and stability of the financial system.”
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