We just concluded a week-long training in Kigali, Rwanda 🇷🇼, organised for officers from the Central Bank of Rwanda, also known as Banki Nkuru Y’u Rwanda. This virtual training was possible thanks to support from the European Union.
After assessment on its AML-CFT system by the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), Rwanda was found to have some deficiencies, especially in having its application of risk-based supervision across both financial and non-financial sectors; the absence of ML/TF risk assessment on virtual asset service providers (VASPs, limited understanding of Terrorist Financing risks and a low level of Beneficial Ownership identification, among others.
In its effort to implement key recommendations outlined by the esaamlg‘s Mutual Evaluation Report, the Central Bank of Rwanda requested the AML CFT ESCAY Project for technical assistance to strengthen its risk-based AML/CFT supervision of the financial sector. The bank supervises wide range of institutions, in addition to the emerging demand to inspect VASPs.
In collaboration and supervision of the Central Bank, we took up the request, developing an AML/CFT supervision manual and a risk-matrix manual which will guide the Central Bank and other relevant officials in the financial sector. We also organised a virtual workshop for Central Bank’s staff, to build their capacity in utilising the risk matrix/model and on risk-based AML/CFT supervision.
The technical assistance sought to improve the Central Bank’s risk-based AML/CFT supervision capabilities and thereby improve Rwanda’s compliance with the Financial Action Task Force (FATF) standards and requirements.
This training and the technical assistance was led and coordinated by our Senior Technical Advisor, Tuemay Aregawi, with the support of Filomena Bispo
#training #rwanda #europeanunion #civipol #esaamlg #centralbank #followthemoney #mutualevaluation
