The Government of the United Republic of Tanzania has taken steps to strengthen anti-money laundering controls by signing two Memoranda of Uunderstanding (MoUs) between supervisory bodies and law enforcement agencies.         

Speaking during the Signing Ceremony held on October 31, 2023, at Dar es Salaam, the Chairperson of the National Multi- Disciplinary Committee on Anti-Money Laundering, Counter Terrorism Financing and Counter- Proliferation Financing, Ms. Sauda Msemo, said that the signing of MoUs is an important milestone in strengthening anti-money laundering controls in Tanzania.

"These MoUs will enable supervisory institutions and Law Enforcement Agencies to cooperate closely in preventing and combating money laundering," said Ms. Msemo.

Ms. Msemo urged supervisory institutions and law enforcement agencies to use the platforms established by the MoUs to strengthen their performance by sharing information, experiences, and capacity building.      

The first MoU establishes cooperation amongst 17 supervisory institutions, including the Bank of Tanzania; Financial Intelligence Unit; Capital Markets and Securities Authority; Tanzania Insurance Regulatory Authority; Gaming Board of Tanzania; Business Registration and Licensing Agency; Registrar of Documents and Registrar of Non-Governmental Organizations; Tanzania Communications Regulatory Authority; Business and Property Registration Authority(Zanzibar); Architects and Quantity Surveyors Registration Board; National Board of Accountants and Auditors; Registration Insolvency and Trusteeship Agency; Tanganyika Law Society; Zanzibar Law Society and Mining Commission. This MoU aims at enabling these institutions to perform their supervisory duties effectively.  

The second MoU establishes cooperation amongst 13 Law Enforcement Agencies, including the National Prosecution Services; The Office of  the Director of Public Prosecutions Zanzibar; Prevention and Combating of Corruption Bureau, Tanzania Intelligence and Security Service,  Zanzibar Drugs Control and Enforcement Authority; Tanzania Drugs Control and Enforcement Authority; Zanzibar Anti- Corruption and Economic Crimes Authority; Office of the Director of Criminal Investigations; Office of the Deputy Director Criminal Investigation (Zanzibar), Tanzania Revenue Authority; Tanzania Wildlife Authority; Tanzania National Parks Authority and Tanzania Forest Services. This MoU aims at enabling these agencies to perform their investigative and prosecutorial duties effectively.

The two agreements are expected to help Tanzania improve its effectiveness in combating money laundering which is a major problem worldwide.