Rwanda: Detailed Assessment Report—Anti-Money Laundering and Combating the Financing of Terrorism
IMF Staff Country Reports, August 3, 2015
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- Rwanda: Detailed Assessment Report—Anti-Money Laundering and Combating the Financing of Terrorism
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Bibliographic details
- Published: August 3, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513529677.002
Overview
- Paper discusses key findings and recommendations of the Detailed Assessment Report on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Rwanda.
- Notes that Rwanda has taken considerable steps over the last years to establish a national AML/CFT framework.
- States that Rwandan authorities have made great progress in modernizing the financial sector and aim at making it more attractive to foreign investors.
- Observes that risks of money laundering and terrorist financing do not appear to be particularly significant in Rwanda, but further action is needed.
Key findings
- Rwanda has established a national AML/CFT framework and has made considerable progress in recent years.
- The financial sector has been modernized as part of efforts to attract foreign investment.
- Current AML/CFT risks are assessed as not particularly significant domestically.
- Areas needing further action include:
- bolstering the legal framework;
- improving implementation of AML/CFT measures;
- strengthening overall supervision of reporting entities within the financial sector;
- mitigating potential domestic and cross-border risks.
Policy recommendations
- Strengthen the legal framework supporting AML/CFT measures.
- Improve implementation and enforcement of existing AML/CFT laws and regulations.
- Enhance supervision of reporting entities across the financial sector.
- Address and mitigate potential domestic and cross-border money laundering and terrorist financing risks.
Content in this bundle
- _cr15221 — IMF AML/CFT Assessment Excerpts