In December 2018, FSVC received funding from the Angolan Bankers Association (ABANC) to help strengthen the anti-money laundering (AML) capacity of its member banks. The program consists of a series of 12 technical assistance activities.
FSVC began working with the Angolan Banking Association (ABANC) in 2019 with the goal of strengthening the capacity of ABANC-member banks and their compliance staff in international best practices in anti-money laundering (AML) compliance and operations.
Through a series of customized training activities, workshops and consultations provided by professional financial experts from Western and emerging market countries, ABANC-member banks and their compliance staff have increased their knowledge in the following areas:
- AML, Know Your Customer (KYC) and Customer Due Diligence (CDD) best practices;
- Detecting and reporting money laundering transactions in commercial banks;
- International best practices in corporate governance;
- Strengthening correspondent banking relationships; and
- Transaction monitoring for cash-based economies.