TRAINING ON ENHANCING AML/CFT/CFP COMPLIANCE AND STRENGTHENING INSTITUTIONAL RESILIENCE ON AML/CTF/CPF

1. Background:

Currently Tanzania AML/CFT/CFP landscape is still marred with deficiencies that require awareness of the reporting persons across the board to ensure full realization of effectiveness of measures introduced by the authorities to address the deficiencies in the country’s AML/CFT/CFP regime. These deficiencies include:

1. • Persistent Non-Compliance with Risk-Based Approach (RBA) requirements by both financial institutions and DNFBPs (i.e. lawyers, accountants, real estate agents, dealers in precious stones/metals). DNFBPs in particular lack proper ML/TF risk assessments and risk-based procedures.

• Low Level of Suspicious Transaction Reporting (STRs)
  The number and quality of STRs from most financial institutions and DNFBPs remain critically low, suggesting inadequate understanding of red flags and lack of effective STR detection system and reporting mechanism.
• Ineffective customer due diligence

Due diligence is the first weapon for effective prevention and detection of money laundering and terrorist financing. However, most reporting persons do not apply risk based customer due diligence. This signify lack of awareness and appropriate tools.

• Gaps in Beneficial Ownership (BO) Transparency Compliance
  All reporting persons in one way or another are often involved in transactions with complex legal entities, yet many fail to collect, verify, and update BO information adequately.
• Misunderstanding of Targeted Financial Sanctions (TFS)
  There is limited awareness and implementation of TFS obligations under UNSCRs 1267 and 1373 for terrorism and proliferation financing.

1. • Emerging Threats from new technologies, Crypto-assets and High-Value Goods
     As fintech develop exponentially so do the financial crimes. Reporting persons need to be kept abreast of risks associated new technologies and their identification and formulation of mitigation measures. In addition, tailored guidance on identifying ML/TF/PF risks in these evolving issues is required.
   • Ever tightening AML/CFT compliance measures (FATF Evaluations and Enforcement Pressure)
     With increasing AML/CFT compliance regulatory requirements (including FATF and FSRB evaluations increasingly scrutinizing effectiveness (not just technical compliance), financial and DNFBPs must show proactive compliance and awareness.
   • Lack of Institutionalized Compliance Functions
     Many DNFBPs lack designated AML/CFT Compliance Officers or internal policies, procedures, and controls tailored to their size and risk profile.
   • Training and Awareness Deficiencies
     Staff turnover and limited access to quality AML/CFT/CFP training perpetuate non-compliance.

ACAS, a Tanzania’s premier AML/CFT/CFP advisory firm, is pleased to invite all Reporting Persons to a practical and high-impact AML/CFT/CFP Compliance Training scheduled for 15^th -17^th July, 2025 be held in Dar es salaam at a venue to be disclosed soon.

This training comes at a crucial time when regulators and global bodies (FATF, ESAAMLG, World Bank, IMF, etc.) spotlight on AML/CFT effectiveness and risk-based implementation is intensifying. ACAS will equip you with the tools to mitigate compliance risk, demonstrate institutional effectiveness, and avoid imposition of both criminal and administrative sanctions.

2.0    Training Topics
The training will focus on the following very important issues in the AML/CFT/CFP regime:

• Applying the Risk-Based Approach (RBA) effectively;
• Filing quality Suspicious Transaction Reports (STRs);
• Conducting effective customer due diligence;
• Implementing Beneficial Ownership (BO) transparency obligations;
• Understanding and applying Targeted Financial Sanctions (TFS);
• Addressing ML/TF/PF sectoral risks; and
• Establishing internal compliance controls and policies.

3.0     Targeted sectors
All Reporting Persons under the AML /CFT/CFP legislations including:

• Banks and financial institutions
• Insurers and intermediaries (brokers and agents)
• Security dealers and brokers
• Money transmitters
• Operators of bureau de change
• Collective Investment Scheme Managers
• Lawyers, Notaries, Legal Professionals
• Accountants, Auditors, Tax Advisors
• Real Estate Agents & Brokers
• Dealers in Precious Metals and Stones
• Trust & Company Service Providers
• Casino/gaming Operators

4.0    Who Should Attend

• Compliance Officers
• Money Laundering Reporting Officers (MLROs)

5.0    Venue, Date and Fee:

Venue: To be communicated upon registration

Date: 17^th July 2025
Time: 8:30 AM – 17:00 PM
Fee: TZS 400,000 per person (Includes Certificate of Attendance, Training Materials Tea/Meals)

6.0    To Register:
To achieve efficiency each organization is requested to register at least two officers i.e. a compliance officer and MLRO.

Registration deadline is 10^th July, 2025

Email: info@acas.co.tz
Phone: : +255 0793327153

Website: www.acas.co.tz

REGISTER EARLY TO SECURE YOUR SPOT!
Empower your institution. Strengthen national compliance.

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