TRAINING NBFIs ON REGISTRATION ON THE goAML PLATFORM AND THE REPORTING OF SUSPICIOUS TRANSACTIONS

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) in collaboration with the Financial Intelligence Agency (FIA), conducted training on the registration of the Non-Bank Financial Institutions (NBFIs) on the goAML portal. 

This was following a bilateral engagement between NBFIRA and FIA to promote reporting obligations on the NBFI sector.

The goAML system is used for reporting suspicious cash transactions which all NBFIs are required to identify, monitor, and report to FIA during the establishment of a business relationship, during the business relationship or when conducting occasional transactions regulated entities. 

To further enhance the NBFI’s knowledge they were also taken through how to file quality reports as stipulated in the Financial Intelligence Act and Regulation of 2022.

NBFIRA...Working Towards Financial Stability!