Implementation of Targeted Financial Sanctions & Controls Against Proliferation Financing

NBFIRA 3/3/10- I (44)

To: AML/CFT Compliance Officers / Principal Officers – Non-Bank Financial Institutions (“NBFIs”)

SUBJECT: Implementation of Targeted Financial Sanctions & Controls Against Proliferation Financing

1. We refer to the above captioned subject matter.
2. Botswana has an obligation to support international efforts to combat money laundering, prevent, suppress and disrupt proliferation of weapons of mass destruction as well as the financing of terrorism.
3. The Non-Bank Financial Institutions Regulatory Authority (“NBFIRA”) in consultation with the Financial Intelligence Agency, hereby in accordance with section 44 (1) (b) of the Financial Intelligence Act of 2019 (“FI Act”) issues a guidance note on Implementation of Targeted Financial Sanctions & Controls Against Proliferation Financing to help regulated entities, otherwise referred to as ‘specified parties’ in the FI Act to comply with their obligations.

4. NBFIs are advised to utilize the guidance note in their institutional risk assessment, AML/CFT & P policies and\ processes.

5. For any further clarity on the above, kindly contact the AML/CFT Department: amlcft@nbfira.org.bw

Link to the PDF Guidance note

Yours faithfully,

_______________________

Sriram Gade (Mr)

Deputy CEO- Regulatory