Uganda Financial Intelligence Authority Requires Virtual Asset Service Providers to Register Under AML Regulat

Following the Mutual Evaluation process, Uganda made a high political commitment to address the identified strategic deficiencies. Under the FATF Action Plan, Uganda was required to enact laws on implementation of targeted financial sanctions and conduct trainings for financial institutions and DNFBPs on the same. As a result, the Financial Intelligence Authority organized a virtual training from 24th 25th May , 2023 and collaborated with the Supervisory Authorities of all Designated Non-Financial Businesses and Professions to mobilize all participants to attend the training. The main goal of the training was to sensitize the DNFBPs on the implementation of targeted financial sanctions under the Anti-Terrorism Amendment Regulations, 2023. Participation: On 25th May 2023 the virtual training attracted over 123 participants i.e, dealers in precious stones and metals, casinos, real estate agents, NPOs, participants from the NGO Bureau, Ministry of Energy, the Lotteries and Gaming Regulatory Authority, Ministry of Lands Housing and Urban Planning, the Association of Real Estate Agents (AREA). On 26th May 2023 the virtual training attracted over 500 participants i.e. lawyers, accountants, participants from Uganda law society, Uganda Law Council and the Institute of Certified Public Accountants. During the training the attendance hit the maximum threshold of participants expected to attend. Another link was created to enable other participants to attend and this attracted over 30 participants . Training outcomes: Participants were able to; Day 1 https://www.youtube.com/watch?v=pf6vZ20jKXc Day 2 https://www.youtube.com/watch?v=zKryfZmVhhA