On April 26, FSVC President and CEO J. Andrew Spindler led a roundtable discussion on “Efforts to Strengthen Angola’s Correspondent Banking Ties to Support Economic Diversification,” hosted by the U.S. – Angola Chamber of Commerce (USACC). The event was attended by board members from Angolan banks, oil companies, audit firms and senior officials from the U.S. Embassy.
During the roundtable, Andy provided an update on FSVC’s work in Angola, which includes providing guidance to Angolan banks on strengthening compliance in anti-money laundering and combating the financing of terrorism (AML/CFT) compliance, and assisting key government institutions in public financial management best practices. Andy also spoke about the role of the Financial Action Task Force (FATF) and potential consequences of a negative FATF review. He urged participants to redouble their efforts to prepare for Angola’s upcoming FATF review in June and July 2022. Participants asked questions and received recommendations regarding the Mutual Evaluation process and the role banks should play in financing small businesses.