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Message: [QUOTE="Nehanda, post: 30923, member: 2262"] Uganda recently promised to keep fighting dirty money and terror funding by following FATF rules. The country celebrated its first year off the FATF grey list last February. FATF watches countries around the world to make sure they stop criminals from hiding illegal cash. The grey list contains countries that need extra watching because they haven't done enough against money crime. Countries that refuse to fix problems end up on the FATF blacklist. North Korea, Iran, Myanmar, and Syria currently sit on this blacklist. Blacklisted nations face tough penalties that hurt their money systems and business deals. Banks inside these countries can't easily send or receive cash across borders. Foreign banks avoid working with blacklisted countries, making international business almost impossible. Investors stay away from blacklisted countries, causing their economies to shrink. Back in 2020, FATF decided Uganda wasn't doing enough about dirty money and put the country on its grey list. Uganda quickly fixed the problems FATF pointed out. These improvements helped Uganda leave the gray list in February 2024, bringing relief to its financial system. On Wednesday, April 2, 2025, Uganda welcomed money crime fighters from all over Eastern and Southern Africa. The meeting brought together officials who ensure countries stop criminals from moving dirty money or buying dangerous weapons. Ramathan Ggoobi from the Finance Ministry spoke about how seriously Uganda takes these issues. He explained that Uganda keeps improving its laws and systems to catch money criminals. The country works with both government agencies and private businesses to share information about suspicious cash movements. Prime Minister Robinah Nabbanja read a message from President Museveni at the meeting. The President warned that dirty money threatens Uganda's safety and economic health - not just its banking system. Henry Musasizi attended the meeting for Finance Minister Matia Kasaija. He described what Uganda did to escape the international watchlist that had worried investors and banks since 2020. Minister Musasizi explained that Uganda changed several important laws to match international standards. They updated both money laundering rules and terrorism laws to satisfy global watchdogs. He praised the Financial Intelligence Authority for its key role in tracking suspicious money. The government gave this agency more money and freedom and trained staff to analyze strange transactions and supervise financial businesses. Uganda focuses extra attention on high-risk businesses instead of treating all companies the same. The central bank, insurance regulators, and stock market watchdogs created special rules for different financial sectors. The country finished studying where criminals might hide money in the economy. This research helped create a national plan to fight financial crimes. Uganda formed special teams to coordinate between different government departments. Its financial detectives joined an international network that shares information about suspicious money across borders. The police and prosecutors have caught more money criminals recently, according to Musasizi. They even took back money and property bought with illegal cash. Uganda taught banks, real estate agents, lawyers, and businesses how to spot dirty money. These partnerships between government and businesses helped catch more financial criminals. The minister admitted that new challenges exist, especially with digital currencies and online assets. But he promised Uganda would keep improving its financial crime-fighting systems for years to come. [/QUOTE]

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