This will be very damaging for our economy, as I’m sure that you will appreciate. The Anti-Money Laundering Bill which is currently before Parliament was prepared by Uganda’s Anti-Money Laundering Committee. The legislation is based on the International Standards on Combating Money Laundering and the Financing of Terrorism which are issued by the FATF and are generally referred to as the FATF 40 Recommendations.
Many of these European statistics are compiled by the ECB in close cooperation with the national central banks. They are published for the benefit of the financial markets and the public at large. Moreover, the ECB closely monitors macroeconomic and institutional developments that pose potential risks to financial stability.