(June 3, 2010) On May 27, 2010, the Angolan Parliament unanimously approved a law to fight money laundering and terrorism financing. The law has 60 articles and, in regard to criminal responsibility of persons, includes punishments of up to 24 years in prison.
According to a report prepared by the Angolan Commissions of Constitutional and Legal Matters, Economy and Finance and Defense, and National Security and Internal Order, the law fulfills a gap in the national legal order. In addition, the report continues, the economic freedom of the modern world requires transparency in financial and commercial transactions, as a fundamental measure to ensure financial and economic security, as a limitation on the private sector, and so as not to endanger the economic stability of states. (Lei de Combate ao Branqueamento de Capitais e Financiamento do Terrorismo, NOTÍCIAS LUSÓFONAS, May 27, 2010, available at http://www.noticiaslusofonas.com/view.php?load=arcview&article=26884