Following the plenary session meeting of the Financial Action Task Force (FATF), by means of the Circular Letter No. 05/2023, of 11 July 2023, issued by the National Bank of Angola (“BNA”) discloses the following:

i. jurisdictions subject to the application of countermeasures due to high risk, with the list remaining unchanged;

ii. jurisdictions subject to a special risk weighting, including a new category that now includes the Republic of the Union of Myanmar;

iii. jurisdictions under continuous monitoring (grey list), as indicated on the FATF website; and

iv. procedures and measures to be adopted by Financial Institutions, as per the guidance of BNA, particularly concerning the adoption of proportional countermeasures to risks, the adoption of measures of enhanced due diligence/non-commencement/termination of business relationship or transactions involving the Republic of the Union of Myanmar, and the adoption of enhanced due diligence measures proportional to the risk for countries identified in the grey list.

For more information on this Banking Alert please contact:
[email protected]