Uganda FIA Circular No 13: FATF Increased Monitoring

• The FATF has identified several countries, including Uganda's neighbors, as being under increased monitoring due to strategic AML/CFT deficiencies.
• Uganda is not explicitly listed among the jurisdictions subject to increased monitoring by the FATF.
• Compliance officers in Uganda should review the updated list of high-risk jurisdictions and assess their exposure to increased monitoring by the FATF.
• The FATF's recommendations are aimed at ensuring that countries have effective systems to prevent money laundering, terrorist financing, and proliferation financing.

While Uganda is not on a list of high-risk jurisdictions by the FATF, the updated list of countries under increased monitoring has significant implications for compliance officers in the country.

The Financial Action Task Force (FATF) has identified several countries, including Uganda's neighbors, as being under increased monitoring due to strategic Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) deficiencies. This decision was made following a FATF Plenary meeting held from 11th-13th February 2026. The list of jurisdictions subject to increased monitoring includes Angola, Bolivia, Bosnia and Herzegovina, Bulgaria, Cameroon, Côte d'Ivoire, Democratic Republic of Congo, Haiti, Iraq, Kenya, Kuwait, Lao PDR, Lebanon, Monaco, Nepal, Papua New Guinea, South Sudan, Syria, Venezuela, Vietnam, the Virgin Islands (UK), and Yemen.

The FATF's efforts to identify and work with jurisdictions having strategic AML/CFT deficiencies are ongoing. The Anti-Money Laundering Regulations, 2015 (as amended), which include Regulation 44, provide the framework for Uganda's AML/CFT regime. Compliance officers in Uganda should be aware of these developments as they impact the country's risk profile and obligations under international standards. The FATF's recommendations are aimed at ensuring that countries have effective systems to prevent money laundering, terrorist financing, and proliferation financing.

While Uganda is not currently on a list of high-risk jurisdictions by the FATF, the updated list of countries under increased monitoring has significant implications for compliance officers in the country. They must review the updated list of high-risk jurisdictions and assess their exposure to increased monitoring by the FATF. This requires identifying any AML/CFT deficiencies within their organizations and taking necessary steps to address them. Failure to comply with international standards can lead to reputational damage, financial penalties, and other consequences. It is essential for compliance officers in Uganda to stay informed about these developments and take proactive measures to ensure their institutions' compliance with the FATF's recommendations.

Compliance officers in Uganda should review the updated list of high-risk jurisdictions and assess their exposure to increased monitoring by the FATF, taking necessary steps to address any identified AML/CFT deficiencies.

Source: Original reporting via Briefly