ESAAMLG COUNCIL OF MINISTERS ADOPTS THE MUTUAL EVALUATION REPORT FOR THE UNITED REPUBLIC OF TANZANIA
The ESAAMLG Council of Ministers approved and adopted the mutual
evaluation report for the United Republic of Tanzania in December 2009.
The report was prepared by ESAAMLG experts and before its approval by
the Council of Ministers it was fully discussed and adopted by the
ESAAMLG Task Force of Senior Officials in August 2009.
The report records the significant commitment of the Government of the
United Republic of Tanzania in establishing an AML/CFT framework The
Anti Money Laundering Act 2006 (AML Act) and the Prevention of Terrorism
Act 2002 (POTA) are the key enactments which support the AML/CFT legal
framework in the United Republic of Tanzania. AML Regulations have also
been issued for implementing the AML Act. The AML Act addresses some
core requirements applicable to financial institutions by imposing
AML/CFT obligations on “reporting personsâ€, which is defined to include
certain financial institutions and Designated Non-Financial Businesses
and Professions (DNFBPs), under the FATF definitions of those terms. The
Act also provides for the establishment of a Financial Intelligence
Unit and a National Multidisciplinary Committee on Anti-Money
Laundering.
The report further identifies areas of deficiencies in the AML/CFT
framework of the United Republic of Tanzania. It makes comprehensive
recommendations on actions that the United Republic of Tanzania needs to
take in the short and medium terms to develop its AML/CFT system to
comply over time with international standards.
ESAAMLG Secretariat
December 2009
Posted: 08, Jan 17
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