The Plenary Sitting of the Chamber of Deputies approved an amendment to Law No. 045/2021 of 18/08/2021, which governs the Financial Intelligence Centre (FIC).
The amendment aims to align the Rwanda Financial Intelligence Centre (FIC) with the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) standards, to better prevent and combat money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction. The law will address deficiencies related to international cooperation in exchanging information, particularly the fact that the FIC is not currently a member of the EGMONT Group of Financial Intelligence Units (FIUs).
In addition, the Plenary approved the Law on the Prevention and Punishment of Money Laundering, Terrorist Financing, and the Financing of the Proliferation of Weapons of Mass Destruction. This law aims to address deficiencies in the criminalization of terrorist financing, the criminalization of money laundering (ML), customer due diligence, politically exposed persons (PEPs), new technologies, and the punishment for non-compliance with Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations.
ESAAMLG is a regional body mandated to prevent and combat money laundering and the financing of terrorism through collaboration and information sharing among its member countries. The Republic of Rwanda has been a member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) since 2014. (End)