The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Angola was undertaken in 2023. According to that Evaluation, Angola was deemed Compliant for 7 and Largely Compliant for 15 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 0 of the Effectiveness & Technical Compliance ratings.
In this report, ESAAMLG found that “Angola’s efforts to combat money laundering and terrorist financing are relatively recent. Though a first comprehensive law was adopted in 2011 (but substantially revised in 2020), the implementation of a preventive system for money laundering and terrorist financing was started since 2000s. Although some technical compliance requirements remain, the legal framework underpinning Angola’s AML/CFT system is generally solid.”
In the last quarter of 2023, the authorities of Angola requested support from the EU Global Facility on AML/CFT with the aim of strengthening the country’s framework on AML/CFT and its compliance with the FATF 40 Recommendations.