National AML/CFT Committee agree to intensify enhancement of the country's AML/CFT regime
Malawi's National Committee on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Committee held its 5th meeting on 20 March 2019 in Lilongwe, with a resolution to work hard in enhancing the country's AML/CFT regime. The call was made by the Chairperson of the Committee, Mr. Ambrose Mzoma, who is the Director of Pensions and Financial Sector Policy Division in the Ministry of Finance, Economic Planning and Development.
Among others, the Committee expects member institutions and other relevant stakeholders to diligently implement recommendations from the 2018 Money Laundering and Terrorist Financing National Risk Assessment (NRA) findings, and finalize the country's AML/CFT Policy by end of 2019.
The National AML/CFT Committee was set up by the Policy Directive from the Minister of Finance, Economic Planning and Development, Dr. Godall E. Gondwe, in August 2017 to, among others, propose policy measures and ensure implementation of key initiatives to realize desired outcomes on AML/CFT in the country.
The current membership of the Committee comprises the Ministry of Finance, Economic Planning and Development; Financial Intelligence Authority; Reserve Bank of Malawi; Malawi Gaming Board; Malawi Police Service; Anti-Corruption Bureau; Malawi Revenue Authority; Director of Public Prosecutions; Ministry of Foreign Affairs and International Cooperation; Ministry of Justice and Constitutional Affairs; National Intelligence Service; Department of Immigration and Citizenship Services; Ministry of Homeland Security; and Ministry of National Defence.