Uganda’s government has unveiled an ambitious, comprehensive strategy to combat money laundering and terrorism financing. The country is taking bold steps to overhaul its legal and regulatory frameworks, with a clear focus on alignment with global standards. This new strategy is not just a national effort but a vital contribution to the larger regional goal of combatting organized crime and terrorism. Uganda’s approach is being closely watched, especially as it works to keep itself off the international grey list.

Uganda’s Comprehensive Anti-Money Laundering Strategy

The fight against money laundering (AML) and terrorism financing (CFT) is no longer just a policy matter for Uganda but a central focus of its governance strategy. As a key player in the region, Uganda has shown an unwavering commitment to enhancing its systems to prevent financial crimes.

Uganda’s Minister of Finance, Planning, and Economic Development, Matia Kasaija, emphasized this during his address at the 49th Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) task force meeting on April 2, 2025. He highlighted the country’s concerted efforts to implement a National Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) strategy, which focuses on essential reforms, resource allocation, and international cooperation.

This strategy does not merely tackle the symptoms of financial crime but aims to build a resilient financial system that will stand the test of time and modern challenges such as virtual assets. At the heart of this strategy is Uganda’s commitment to upholding Financial Action Task Force (FATF) standards and strengthening legal frameworks, which is fundamental for the country’s future in international finance.

Key Legislative Amendments for AML/CFT Compliance

One of the standout elements of Uganda’s comprehensive strategy is its focus on legislative reform. Uganda has made substantial changes to its legal framework, including amendments to both the Anti-Money Laundering Act (Cap. 118) and the Anti-Terrorism Act. These amendments are designed to ensure that Uganda is fully compliant with FATF standards, which are recognized as the global benchmark for combating money laundering and terrorism financing.

In his speech, Kasaija confirmed, “We amended a number of laws, including the Anti-Money Laundering Act, Cap. 118, and the Anti-Terrorism Act, to align them with the Financial Action Task Force (FATF) Standards.” These changes reflect Uganda’s proactive stance in addressing not only its current financial crime issues but also emerging trends and threats.

FATF standards are crucial in providing a global framework for AML/CFT efforts. Their adoption ensures that Uganda’s legal system remains robust and capable of handling complex financial crimes and terrorism-related offenses. With these legislative changes, Uganda has shown that it is serious about its financial integrity and long-term economic security.

Strengthening National Coordination Mechanisms

A critical component of Uganda’s AML strategy is the establishment of functional coordination mechanisms. The creation of the National AML/CFT Task Force and the Financial Intelligence Authority (FIA) has laid the groundwork for a unified, national effort to combat financial crimes.

The FIA, which is a member of the EGMONT Group of Financial Intelligence Units, plays an essential role in Uganda’s AML/CFT efforts. The EGMONT Group facilitates international cooperation and intelligence sharing among financial intelligence units worldwide, enabling Uganda to work alongside other nations to combat financial crime more effectively.

Kasaija further elaborated on this by saying, “The Financial Intelligence Authority (FIA) is a member of the EGMONT Group of Financial Intelligence Units that facilitates cooperation and intelligence sharing between national Financial Intelligence Units (FIUs) to investigate and prevent money laundering and terrorism financing.” This membership ensures Uganda has access to a wealth of resources and expertise to support its efforts.

Through such coordination mechanisms, Uganda is enhancing its capacity to monitor, investigate, and prosecute financial crimes, creating a more secure financial environment.

Progress in Investigations and Asset Recovery

Law enforcement agencies in Uganda have made impressive strides in investigating and prosecuting money laundering and terrorism financing cases. These efforts have been accompanied by the recovery of assets linked to criminal activities. Such progress is a clear indicator of Uganda’s growing ability to tackle financial crime effectively.

“We have also recovered assets linked to criminal activities,” Mr. Kasaija remarked during the meeting. This achievement demonstrates not just a theoretical commitment to fighting financial crime but tangible, impactful results. The recovery of illicitly gained assets is an essential aspect of AML, as it weakens the criminal enterprises and provides much-needed restitution.

The recovered assets contribute to Uganda’s broader financial crime prevention strategy, helping to restore integrity to the nation’s financial system while deterring future violations.

Building Capacity through Public and Private Sector Collaboration

Another cornerstone of Uganda’s anti-money laundering strategy is its emphasis on public-private sector collaboration. Uganda recognizes that tackling financial crimes requires collective efforts from all sectors of society, including financial institutions, non-financial businesses, and the private sector.

“We have worked closely with financial institutions, Designated Non-Financial Businesses and Professions (DNFBPs), and the private sector to raise awareness and build capacity,” said Kasaija. By fostering these relationships, Uganda is ensuring that all stakeholders are equipped with the knowledge and resources to recognize, report, and prevent money laundering and terrorism financing.

This multi-stakeholder approach also includes ongoing training and capacity-building programs, aimed at ensuring that institutions and individuals have the skills needed to combat evolving financial crime methods. Uganda’s focus on raising awareness and developing a more informed workforce positions it well for long-term success in tackling financial crime.

Uganda’s Role in Regional AML/CFT Cooperation

Uganda has long been a strong participant in regional anti-money laundering and combating the financing of terrorism initiatives. As a founding member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), Uganda has shown its commitment to regional cooperation in the fight against financial crime.

The ESAAMLG provides a platform for member countries to review their compliance with FATF standards and share best practices. Uganda’s involvement in mutual evaluation processes and technical assistance programs within ESAAMLG has further strengthened its AML/CFT regime.

“We continue to actively participate in ESAAMLG Mutual Evaluation processes and technical assistance programmes. These achievements demonstrate our Government’s strong political commitment and multi-stakeholder collaboration in strengthening financial integrity,” Kasaija noted.

As regional cooperation intensifies, Uganda will continue to play a central role in shaping and strengthening the fight against financial crime in Eastern and Southern Africa.

Conclusion: Uganda’s Dedicated Commitment to Financial Integrity

Uganda’s comprehensive National Anti-Money Laundering/Combating the Financing of Terrorism Strategy marks a pivotal step in strengthening the country’s legal, regulatory, and institutional frameworks. By aligning with FATF standards and focusing on key reforms, Uganda is positioning itself as a leader in the regional fight against money laundering and terrorism financing.

Through continued coordination, capacity-building, and collaboration with the public and private sectors, Uganda’s AML/CFT framework will continue to evolve. As the government works to build a more secure and resilient financial system, Uganda’s efforts will undoubtedly inspire other nations in the region to bolster their own financial crime prevention measures.

Related Links

• FATF – Financial Action Task Force
• EGMONT Group of Financial Intelligence Units
• Uganda Ministry of Finance – Official Website
• Eastern and Southern Africa Anti-Money Laundering Group

Other FinCrime News Reports About Africa’s Efforts and Progress

• West Africa’s Tangible Progress in Combating Money Laundering in 2025
• The Interpol-Africa Collaboration Is a Major Step in Transforming Financial Security
• Muinmos Partners with Africa Due Diligence to Boost KYC Compliance in Africa
• Check Muinmos’ page on FinCrime Central

Source: Monitor, original article by Martin Luther Oketch