Parliament of Tanzania - The Anti-Money Laundering Act, 2006


The Parliament of Tanzania's Anti-Money Laundering Act, 2006 is an act to make better provisions for the prevention and prohibition of money laundering. The act establishes the Financial Intelligence Unit (FIU) as an extra-ministerial department of the Ministry of Finance, which is to receive, analyze and disseminate suspicious transaction reports and other information regarding potential money laundering or terrorist financing received from reporting persons and other sources. The act also creates the National Multi-Disciplinary Committee on AML (anti-money laundering), which assesses and improves AML policies and advises the government on AML and other related matters. The act is divided into several parts, and sets forth provisions on the following topics:

1. Establishment of the Financial Intelligence Unit (FIU)
2. Appointment of the Commissioner
3. Powers and Duties of the FIU
4. Employees of the FIU
5. Establishment and Composition of the National Committee
6. Functions of the National Committee
7. Meetings of the National Committee
8. Allowances and Remunerations of the National Committee
9. Offense of Money Laundering
10. Penalties for Acts of Money Laundering
11. Offenses by Corporate Bodies
12. Anti-Money Laundering Supervision
13. Sources of Fund
14. Financial Year
15. Accounts and Audit
16. Immunity
17. Application of Proceeds of Crime
18. Regulations

Document Details

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Sunday, July 1, 2007
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Parliament of Tanzania
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