13th July 2018
President Yoweri Museveni has approved increased security spending for Uganda’s 456 members of parliament – including on sharpshooters and armoured escort vehicles – after a ruling party lawmaker was shot dead. Critics said the spending was wasteful and failed to address security concerns of normal citizens who fear rampant crime… Read More
26th December 2017
Bank of Uganda (BOU) has finally unfrozen bank accounts of ActionAid Uganda after nearly three months of closure. “The leadership of ActionAid Uganda is pleased to inform its partners, supporters, and staff that our quest to have our bank accounts unfrozen has been achieved following constructive discussions with some agencies… Read More
9th November 2017
Kenya, Uganda and Tanzania are among the countries in east Africa where international lenders have cut-off correspondent banking relationships for fear of being exposed to charges of money laundering and terrorism financing. “The withdrawals of correspondent Bank relationships (CBRs) could result in longer payment… Read More
19th September 2017
Some African countries are at risk of getting slapped with sanctions and trade restrictions for their dealings with North Korea. A report was released by United Nations panel of experts on September 9th, two days prior to the UN Security Council’s unanimous adoption of a tough new round of sanctions… Read More
27th June 2017
Uganda will in September host a group of international experts to try and convince them that the country’s financial system is well-regulated enough to combat money laundering and terrorism financing. Read More
6th December 2016
Taking bribes is very dangerous. Offending officers should be reported to Parliament and the Executive. Read More
5th August 2016
With the new initiative, you can also ‘celebrate a hero’ who has declined a bribe in their community. Read More
4th August 2016
Government is set to introduce a new regulation to protect finances of members in Savings and credit cooperative organisations (Saccos). This was revealed on Monday by the regional manager of the Uganda Cooperative Savings and Credit Union, Mr Pascal Bwambale, while speaking in Malongo Sub-county, Mayuge District, during the commissioning… Read More
3rd June 2016
Kampala — The Financial Intelligence Authority (FIA), the body mandated to monitor, investigate and prevent money laundering, yesterday signed a Memorandum of Understanding with the Inspectorate of Government (IG), to bolster anti-corruption measures in the public and private sectors. The framework will mainly facilitate information sharing… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More