LUANDA: Angola is to submit its system evaluation information to the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) on Dec. 15, for the ESAAMLG to form a mutual evaluation report on the country, Director of the Financial Information Unit of Angola Francisca de Brito said Thursday.

Brito explained that the first mutual evaluation of Angola’s system took place in 2012, and for this second edition, several institutions have been integrated, including supervisory and regular organs of the country’s financial system, such as the National Bank of Angola, General Tax Administration, Criminal Investigation Service, among others.

The mutual evaluation of Angola’s system for preventing and combating money laundering, financing terrorism and the proliferation of weapons of mass destruction is scheduled to end in April 2023.

According to Brito, the final report will allow Angola to identify the existing deficiencies in its financial system, while presenting ways to solve them.

The ESAAMLG is the regional body implementing the Financial Action Task Force (FATF) Recommendations, and the FATF is an intergovernmental organization to combat money laundering.

The FATF mutual evaluations are peer reviews where members from different countries assess another country, according to the FATF website.