| Description |
1 online resource (406 pages) |
| Series |
IMF country report, 1934-7685 ; no. 15/221 |
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IMF country report ; no. 15/221.
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| Contents |
Cover; Contents; Acronyms; Preface; Executive Summary; 1. GENERAL; 1.1. General Information on Rwanda; 1.2. General Situation of Money Laundering and Financing of Terrorism; 1.3. Overview of the Financial Sector; 1.4. Overview of the DNFBP Sector; 1.5. Overview of commercial laws and mechanisms governing legal persons and arrangements; 1.6. Overview of strategy to prevent money laundering and terrorist financing; 2. LEGAL SYSTEM AND RELATED INSTITUTIONAL MEASURES; 2.1. Criminalization of Money Laundering (R.1 and 2); 2.1.1 Description and Analysis; 2.1.2 Recommendations and Comments |
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2.1.3 Compliance with Recommendations 1 and 22.2. Criminalization of Terrorist Financing (SR. II); 2.2.1 Description and Analysis; 2.2.2 Recommendations and Comments; 2.2.3 Compliance with Special Recommendation II; 2.3. Confiscation, freezing and seizing of proceeds of crime (R.3); 2.3.1 Description and Analysis; 2.3.2 Recommendations and Comments; 2.3.3 Compliance with Recommendation 3; 2.4. Freezing of funds used for terrorist financing (SR. III); 2.4.1 Description and Analysis; 2.4.2 Recommendations and Comments; 2.4.3 Compliance with Special Recommendation III |
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2.5. The Financial Intelligence Unit and its Functions (R.26)2.5.1 Description and Analysis; 2.5.2 Recommendations and Comments; 2.5.3 Compliance with Recommendation 26; 2.6. Law enforcement, prosecution and other competent authorities-the framework for the investigation and prosecution of offenses, and for confiscation and freezing (R.27 and 28); 2.6.1 Description and Analysis; 2.6.2 Recommendations and Comments; 2.6.3 Compliance with Recommendations 27 and 28; 2.7. Cross-Border Declaration or Disclosure (SR. IX); 2.7.1 Description and Analysis; 2.7.2 Recommendations and Comments |
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2.7.3 Compliance with Special Recommendation IX3. PREVENTIVE MEASURES-FINANCIAL INSTITUTIONS; 3.1. Risk of money laundering or terrorist financing; 3.2. Customer due diligence, including enhanced or reduced measures (R.5 to 8); 3.2.1 Description and Analysis; 3.2.3 Recommendations and Comments; 3.2.3 Compliance with Recommendations 5 to 8; 3.3. Third Parties and Introduced Business (R.9); 3.3.1 Description and Analysis; 3.3.2 Recommendations and Comments; 3.3.3 Compliance with Recommendation 9; 3.4. Financial Institution Secrecy or Confidentiality (R.4); 3.4.1 Description and Analysis |
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3.4.2 Recommendations and Comments3.4.3 Compliance with Recommendation 4; 3.5. Record keeping and wire transfer rules (R.10 and SR. VII); 3.5.1 Description and Analysis; 3.5.2 Recommendations and Comments; 3.5.3 Compliance with Recommendation 10 and Special Recommendation VII; 3.6. Monitoring of Transactions and Relationships (R.11 and 21); 3.6.1 Description and Analysis; 3.6.2 Recommendations and Comments:; 3.6.3 Compliance with Recommendations 11 and 21; 3.7. Suspicious Transaction Reports and Other Reporting (R.13-14, 19, 25 and SR. IV); 3.7.1 Description and Analysis |
| Summary |
Rwanda has taken considerable steps over the last years to establish a national AML/CFT framework. It enacted, in 2008, the law on prevention and penalizing the crime of money laundering and financing terrorism (Law No. 47/2008 of 09/09/2008, the AML/CFT Law), which sets out the main AML/CFT legal framework, and, in 2011, established a financial intelligence unit (FIU), which became operational shortly before this assessment. The AML/CFT framework remains, however, unfamiliar to most of the relevant authorities and reporting entities, and more efforts should be devoted to raising awareness to the prevention and detection of money laundering and terrorist financing. Rwanda's financial sector is small and mainly dominated by banks. The Rwandan authorities have made great progress in modernizing the financial sector, and aim at making it more attractive to foreign investors. While the risks of money laundering and terrorist financing do not appear to be particularly significant in Rwanda, further action should nevertheless be taken to bolster the legal framework, improve its implementation, strengthen overall supervision of reporting entities within the financial sector, and mitigate the potential domestic and cross-border risks |
| Notes |
"Legal Department."--Page 2 of pdf |
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"August 2015." |
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"September 3, 2014"--Page 2 of pdf |
| Bibliography |
Includes bibliographical references |
| Notes |
Online resource; title from pdf title page (IMF Web site, viewed August 6, 2015) |
| Subject |
International Monetary Fund -- Rwanda
|
| SUBJECT |
International Monetary Fund fast |
| Subject |
Money laundering -- Rwanda -- Prevention
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Terrorism -- Rwanda -- Finance -- Prevention
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Money laundering -- Prevention -- Law and legislation -- Rwanda
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Terrorism -- Finance -- Prevention -- Law and legislation -- Rwanda
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Money laundering -- Prevention
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Terrorism -- Finance -- Prevention
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Rwanda
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| Form |
Electronic book
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| Author |
International Monetary Fund. Legal Department.
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| ISBN |
1513568035 |
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9781513568034 |
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1513529676 |
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9781513529677 |
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1513576305 |
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9781513576305 |
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