Angola’s Capital Markets Commission (CMC) held a workshop on 30 October focused on ‘Procedures and Mechanisms for Implementing Targeted Financial Sanctions’, aimed at deepening knowledge of the applicable legal framework and reinforcing mechanisms to prevent and combat financial crimes in Angola.
The initiative formed part of broader efforts to strengthen Angola’s national system for preventing and combating money laundering, terrorism financing, and the financing of the proliferation of weapons of mass destruction — areas that require coordinated action from both public and private institutions, particularly those operating within the financial system.
During the event, participants examined the challenges, implications, and benefits of implementing targeted financial sanctions, which are regarded as a key instrument for preventing designated individuals, groups, or entities from accessing financial resources or moving assets for illicit purposes.
Alignment with International Standards
The workshop took place as Angola works to improve the effectiveness of its anti-money laundering and counter-terrorism financing framework, in line with commitments made to the Financial Action Task Force (FATF).
Strengthening these mechanisms is considered essential to increasing confidence in the financial system, protecting the integrity of the capital markets, and ensuring that national institutions have adequate procedures in place to identify and prevent transactions that may be linked to illicit activities.
Through this initiative, the CMC sought to contribute to enhancing the technical and institutional capacity of capital market participants, promoting a culture of compliance, transparency, and accountability in adherence to both national and international standards.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=557599
