The professionals who help move, hide and legitimise Uganda’s dirty money Kampala, Uganda | IAN KATUSIIME | Uganda could be losing more than Shs2 trillion a year to illicit financial flows (IFFs), with trade misinvoicing alone estimated to have created a $6.6 billion gap between what Uganda reported …
Read More »
Kampala, Uganda | URN | The rapid economic transformation taking place in the Bunyoro sub-region could create new opportunities for criminals to move or conceal illicit funds, the Financial Intelligence Authority (FIA) has warned. The authority has identified land transactions, money lending, corruption in local governments, cross-border trade, and smuggling …
Read More »
Kampala, Uganda | THE INDEPENDENT | Uganda has been struck off the Grey List of the Financial Action Task Force (FATF), a categorization that risked the Ugandan financial industry being blacklisted. The FATF Grey List acts as a warning to a country that other countries, authorities and the international community will …
Read More »
Kampala, Uganda | THE INDEPENDENT | The fight against illicit financial flows and money laundering is being limited by the lack of knowledge of the industry by the actors, according to the Financial Intelligence Authority (FIA). According to FIA, the country has put in place most of the regulatory requirements …
Read More »
The Financial Intelligence Authority explains why new EU rules are biting Kampala, Uganda | RONALDMUSOKE | Uganda’s Financial Intelligence Authority (FIA) has come out to allay the fears of some Ugandans who in recent weeks have shared their frustration via social media about their struggle to exchange money while on their …
Read More »
Fraudsters have resorted to using simcards of dead people or old people in rural areas ignorant about transactions | THE INDEPENDENT | The National Payment Systems Services Association has partnered with Uganda Bankers Association to fight fraud that had become a threat to the financial sector and the growth in …
Read More »
Nairobi, Kenya | Xinhua | Kenyan President Uhuru Kenyatta has flagged off the second edition of the World Rally Championship (WRC) that started in the capital Nairobi on Thursday. Kenyatta flagged off the first ten rally cars which included Kenyan McRae Kimathi, Maxine Wahome, Jeremy Wahome, Hamza Anwar, and the French …
Read More »
Kampala, Uganda | THE INDEPENDENT | The Executive Director of the Finance Intelligence Authority, Sydney Asubo revealed that Uganda risks being blacklisted by the Financial Action Taskforce (FATF) if the government does not tackle money laundering by May 2022. Asubo who was appearing before the Committee on Finance said that the FATF …
Read More »
Kampala, Uganda | THE INDEPENDENT | Civil society activists have condemned the decision by the Financial Intelligence Authority-FIA to freeze the accounts of Uganda Women’s Network-UWONET and Uganda National-NGO Forum for alleged terror financing. FIA froze the accounts of the two organisations in Stanbic Bank, ABSA Bank, KCB Bank and Standard …
Read More »
Kampala, Uganda | THE INDEPENDENT | Uganda Women’s Network-UWONET has dismissed as false claims by the Financial Intelligence Authority-FIA that it is financing terrorism. On December 11, 2020, FIA froze the accounts of UWONET and Uganda National NGO Forum in Stanbic Bank, ABSA Bank, KCB Bank and Standard Chartered Bank on …
Read More »
The Independent Uganda: You get the Truth we Pay the Price
