Proceeds of Crime Act

mzale

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mzale

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Ndugu,
as the globe in general is taking measures towards combatting the effects of money laundering and financial crime due to its paramount effect on a nations economy, one cant help to wonder where do we stand a nation.
The Bank of Tanzania has a useful outline of legislation and circulars in place however I couldn't find the actual circulars,
However i came across Circular No 8 relates to suspicious activity and money laundering specifically. However one source states:
"The Central Bank has issued Circular No 8 requiring financial institutions to file suspicious transaction reports (STRs), but this requirement is not being enforced, and no mechanism exists for receiving and analyzing the STRs. Financial institution employees are legally protected from liability stemming from reporting suspicious transactions."
I also understand that they may be reviewing their Proceeds of Crime Act 1991 although I can't find any Bills on this at the present time.to my understanding it was brought to parliament sometime back in 2003 but it was pushed aside and schuduled to apear again before parliament this year
Tanzania does not have a body to supervise financial institutions, nor is it a member of the Egmont Group however it is a part of the Eastern and Southern Africa Anti-Money Laundering Group although they haven't yet published their evaluation for this country yet. Transparency International have placed it at 90 out of 146 for corruption (ie quite high as 146 is the most corrupt).
 

Game Theory

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Game Theory

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Augustine Moshi said:
Is the Bank of Tanzania not a body that supervises financial institutions?
Please explain.

Augustine Moshi

To my understanding is he ment something like Financial Services Authority in the UK which works independently from the Central Bank

how about that?
 

Steve Dii

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Steve Dii

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Mkuu kuna mamlaka ya kusimamia hii mifuko imeundwa, itaanza kazi hivi karibuni, na nafikiri moja ya jukumu lake itakua ni kuweka utaratibu wa wanachama kuweza kuchukua kiasi cha michango yao kama mikopo. So soon utaweza kuchukua mikopo kwa ajili ya maendeleo yako binafsi.
Vyombo vya kusimamia taasisi kama hiki anachokielezea Alwatan kuhusiana na NSSF kitafaa sana kikiwepo kingine kwa ajili ya kusimamia financial sector.
 

stata mzuka

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stata mzuka

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Ndugu,
as the globe in general is taking measures towards combatting the effects of money laundering and financial crime due to its paramount effect on a nations economy, one cant help to wonder where do we stand a nation.
The Bank of Tanzania has a useful outline of legislation and circulars in place however I couldn't find the actual circulars,
However i came across Circular No 8 relates to suspicious activity and money laundering specifically. However one source states:
I also understand that they may be reviewing their Proceeds of Crime Act 1991 although I can't find any Bills on this at the present time.to my understanding it was brought to parliament sometime back in 2003 but it was pushed aside and schuduled to apear again before parliament this year
Tanzania does not have a body to supervise financial institutions, nor is it a member of the Egmont Group however it is a part of the Eastern and Southern Africa Anti-Money Laundering Group although they haven't yet published their evaluation for this country yet. Transparency International have placed it at 90 out of 146 for corruption (ie quite high as 146 is the most corrupt).

Mkuu hii link yako itume vizuri au ukishindwa iandike tu tujaribu kuingia, maana hapa imekataa.
 

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