Government to set up a Financial Investigative Unit

In a move to implement the Anti Money Laundering law, government is set to establish a Financial Investigative Unit targeting next year to fight the crime. A team from the National Police and the National Bank of Rwanda is jointly drafting an Order that will establish the unit. It is a central national agency responsible for receiving, processing, analysing and disseminating information relating to suspicious financial transactions and also share the same information across borders. “We told the team to have a note that will be presented to the Central Bank and National Police before the end of this year and hope by June next year the unit will be operating,” François Kanimba, the Central Bank Governor told Business Times in telephone interview yesterday. Jean Paul Rutabingwa a legal officer in the Central Bank said that the Order will identify the prerequisites required to start operational. The Unit will be managed by the National Police with the Central Bank charged to oversee its operations to ensure effectiveness. Anti-money laundering and combating terrorist was launched when financial experts expressed fears that money laundering and terrorist financing can threaten financial stability and economic prosperity. Ends

News

Government to set up a Financial Investigative Unit