Article Angola: Money Laundering to Be Monitored by the Central Bank

(Jan. 10, 2011) The Governor of the Angolan Central Bank, José Lima Massano, recently announced that in the beginning of 2011 the bank will create a unit designed to prevent and detect acts that use the Angolan financial system to finance terrorism and money laundering. Massano anticipated that the unit will become operational during the first quarter of 2011. (Banco Central de Angola Cria Unidade Contra Branqueamento de Capitais, NOTÍCIAS LUSÓFONAS (Dec. 30, 2010), http
://www.noticiaslusofonas.com/view.php?load=arcview&article=29036&catogory=Angola.) The unit was created pursuant to article 96(5) of the newly enacted Law No. 16 of July 15, 2010, that regulates the activities of the Angolan Central Bank. (Lei do banco Nacional de Angola, Law No. 16/10 of July 15, 2010, National Bank of Angola website, http://www.bna.ao/pdf/LEIS/Lei%20do%20BNA%20(3).pdf.)

It was only recently that the Angolan legislature adopted a new law on money laundering. On June 18, 2010, Law No. 12/10 was enacted to establish preventive and repressive measures against money laundering and the financing of terrorism. (Lei do Branqueamento de Ca
pitais e do Combate ao Financiamento do Terrorismo, National Bank of Angola website, http://www.bna.ao/default.aspx?c=120 (last visited Jan. 7, 2011).)

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Angola: Money Laundering to Be Monitored by the Central Bank

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Chicago citation style:

Soares, Eduardo. Angola: Money Laundering to Be Monitored by the Central Bank. 2011. Web Page. https://www.loc.gov/item/global-legal-monitor/2011-01-10/angola-money-laundering-to-be-monitored-by-the-central-bank/.

APA citation style:

Soares, E. (2011) Angola: Money Laundering to Be Monitored by the Central Bank. [Web Page] Retrieved from the Library of Congress, https://www.loc.gov/item/global-legal-monitor/2011-01-10/angola-money-laundering-to-be-monitored-by-the-central-bank/.

MLA citation style:

Soares, Eduardo. Angola: Money Laundering to Be Monitored by the Central Bank. 2011. Web Page. Retrieved from the Library of Congress, <www.loc.gov/item/global-legal-monitor/2011-01-10/angola-money-laundering-to-be-monitored-by-the-central-bank/>.